NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin Price Watch: BTC/USD’s Bounce From Lows Looks Real

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:32 pm
2 mins read
technical analysis bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Key Points

  • Bitcoin price declined and retested the $6,200 support before recovering sharply against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $6,275 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price may correct a few points, but it could find support near the $6,290 or $6,245 level.

Bitcoin price is holding gains above $6,290 against the US Dollar. BTC/USD could climb further higher towards the $6,355 and $6,385 resistance levels.

Bitcoin Price Analysis

Yesterday, we discussed chances of more losses below the $6,250 support in bitcoin price against the US Dollar. The BTC/USD pair did move down below the $6,250 and retested the $6,200 support. However, there was a strong buying interest near the $6,200 zone, resulting in a sharp recovery. The price traded as low as $6,205 and later jumped above the $6,290 and $6,300 resistance levels.

The upside move was strong as the price spiked above the $6,355 resistance and the 100 hourly simple moving average. However, buyers failed to hold gains above the $6,355 level, which resulted in a push below $6,320 and the 100 hourly SMA. The price tested the 50% Fib retracement level of the recent wave from the $6,205 low to $6,377 high. The current price action is positive and it seems like the price may climb back towards $6,355 or $6,385 in the near term. An initial support awaits near $6,290 followed by the 61.8% Fib retracement level of the recent wave from the $6,205 low to $6,377 high. The main support on the downside below $6,271 is near the $6,245 level.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is nicely supported near $6,290 and $6,245. As long as there is no break below the recent low, the price could recover above $6,355.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slowly moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is well above the 50 level.

Major Support Level – $6,245

Major Resistance Level – $6,355

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

기관 및 기업 연계 늘면서 솔라나 생태계 확장 속도 가속... 차세대 보안 지갑의 중요성은?

기관 및 기업 연계 늘면서 솔라나 생태계 확장 속도 가속… 차세대 보안 지갑의 중요성은?

핵심 내용: 솔라나 생태계는 여전히 빠른 속도로 확장되고 있으며, 기관과 기업의 참여가 늘면서 빠른 처리 속도와 보안성을 갖춘 인프라에 대한 수요도 함께 커지고 있다. 개발자 활동...

Soyeon Lee 1 hour ago
Bitcoin Is Hurting, But Bitcoin Hyper Aims To Fix The Chain in a Viral Presale Nearing $28M

Bitcoin Is Hurting, But Bitcoin Hyper’s Viral $28M Presale Promises a Fix

What to Know: Bitcoin’s slow throughput, high fees, and lack of smart contracts limit its role in DeFi, even as...

Aaron Walker 2 hours ago

Next Crypto To Explode? Solana’s $130 Bottom Puts New Alts In Play

What to Know: Solana’s strong defense of $130, plus a V-shaped recovery pattern, keeps a move back toward the $180–$250...

Aaron Walker 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

New Hampshire’s Bitcoin bond bet puts $140T in play – Bitcoin Hyper steps up.

New Hampshire’s Bitcoin Bond Bet Puts $140T In Play – Bitcoin Hyper Steps Up

Aaron Walker 8 minutes ago
Best crypto presales to keep your money safe as Bitcoin wobbles.

Best Crypto Presales To Keep Your Money Safe As Bitcoin Wobbles

Aaron Walker 1 hour ago
Crypto news next fed chair

Crypto Traders See Bullish Tailwind: Hassett Jumps In Fed Chair Odds

Jake Simmons 1 hour ago

Premium Sponsors

Press Releases

  • Najbolji altcoinovi koje vrijedi pratiti u listopadu 2025...

    2 hours ago
  • Top altcoins de urmărit în noiembrie 2025: Bitcoin Hyper, Maxi Doge, Pepenode și Snorter, în fruntea noului val blockchain

    Top altcoins de urmărit în noiembrie 2025: Bitcoin Hyper...

    17 hours ago
  • Top altcoiny, které sledovat v listopadu 2025 Bitcoin Hyper, Maxi Doge, Pepenode a Snorter, vedoucí novou blockchainovou vlnu

    Top altcoiny, které sledovat v listopadu 2025: Bitcoin...

    19 hours ago
  • Топ алткойни, които да следите през ноември 2025 г.: Bitcoin Hyper, Maxi Doge, Pepenode и Snorter, водещи новата блокчейн вълна

    Топ алткойни, които да следите...

    21 hours ago
  • リップル 今後:ETF期待が急速にしぼむ中、XRPは売り圧力で下落継続──2.22ドル割れなら何が起きるのか

    リップル...

    22 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.