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: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence
  • 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: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Bitcoin Slows Its Bearish Momentum Following Daily Close; Factors to Consider

Cole Petersen
Cole Petersen
4 years ago
2 mins read

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.

Bitcoin is currently flashing some notable signs of strength following the bout of weakness seen throughout the past couple of weeks.

The cryptocurrency is far outperforming the altcoin market, with both major altcoins like Ethereum and Chainlink – as well as smaller ones – all flashing signs of immense weakness throughout the past several days and weeks.

BTC’s upswing amidst a turbulent and bloody market is the ultimate show of strength, indicating that investors still view it as the most reliable and safe digital asset during times of uncertainty within the nascent market.

One analyst observed that this recent upswing came about shortly after an incredibly strong daily close posted by the crypto yesterday.

He notes that while the bearish momentum that was previously guiding it lower has grinded to a halt, and the benchmark cryptocurrency is now testing the neckline of a prior head and shoulders pattern.

Whether or not Bitcoin is able to break above $11,000 should provide significant insights into its near-term outlook.

Bitcoin Bucks Market-Wide Turbulence and Pushes Higher

At the time of writing, Bitcoin is trading up just over 1% at its current price of $10,930. This marks a notable upswing from its recent lows of $9,900 that were set just last week.

It is important to note that these lows were tested on multiple occasions, which led many analysts and investors to believe that a break below them was imminent.

That being said, the cryptocurrency has since posted a strong $1,000 rebound from these lows, signaling that bulls aren’t ready to cede control over its near-term trend.

It now appears that where the cryptocurrency trends next may depend somewhat on its continued reaction to $11,000, which happens to be where it faces some strong resistance.

A strong and decisive break above the lower-$11,000 region would significantly bolster the asset’s near-term outlook.

BTC’s Latest Daily Close Strikes a Blow to Bears’ Momentum

While speaking about Bitcoin’s near-term outlook, one analyst observed that the daily close above $10,500 has muddied the waters as to the crypto’s near-term trend.

He notes that in order for bulls to take full control, it is imperative that they shatter the neckline of its previous head and shoulders pattern – which sits at $11,000.

“Bitcoin – daily close above the most critical support area of 10.5k really muddies the waters. Bear momentum most certainly slowed down now, leaving mostly a chop range from 10.5k to the prior HnS neckline of 11k,” he stated.

Bitcoin

Featured image from Cheds. Chart via TradingView.

How Bitcoin trends throughout the coming few days should offer insights into the mid-term outlook of the aggregated crypto market.

Featured image from Unsplash.
Charts from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

Bitcoin Price Could Be Preparing For Fresh Wave Of Volatility — Here’s Why

The Bitcoin price action over the weekend has been quite sluggish, reflecting the indecision and fatigue seemingly hovering over the...

Opeyemi Sule 1 hour ago
Ethereum price

Ethereum Price Struggles To Hold Above $2,500 — Watch Out For This Support Level

The Ethereum price performance in the month of May has been nothing short of outstanding, surging by more than 35%...

Opeyemi Sule 4 hours ago
Cardano Whale Activity Spikes – 80 Million ADA Added In 48 Hours

Cardano Whale Activity Spikes – 80 Million ADA Added In 48 Hours

Cardano (ADA) is entering a decisive moment as bulls fight to hold the $0.74 support zone and build momentum for...

Sebastian Villafuerte 6 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

Best Altcoins to Buy Now as Contracting Supply Set to Push Bitcoin past $200K by the End of 2025

Best Altcoins to Buy Now as Contracting Supply Set to Push Bitcoin past $200K by the End of 2025

NewsBTC 30 minutes ago
新しい仮想通貨に熱視線:ビットコイン連動のエアドロップで需要急増中?

新しい仮想通貨に熱視線:ビットコイン連動のエアドロップで需要急増中?

Yohei Hanazato 31 minutes ago
アルトコインで見る2025年のセキュリティ強化:コインベースやバイナンスの教訓とは

アルトコインで見る2025年のセキュリティ強化:コインベースやバイナンスの教訓とは

Yohei Hanazato 51 minutes ago

Premium Sponsors

Top Brands

Press Releases

  • Ripple (XRP) holder benefits: Earn $93,600 a day through...

    2 hours ago
  • REVEALED: The Bitcoin Mining Secret Robinhood Users Use to...

    13 hours ago
  • Why XRP BTC DOGE Enthusiasts and Millionaires Stop Talking...

    14 hours ago
  • Bitcoin prices are skyrocketing, and using it to...

    20 hours ago
  • Robinhood users trade and mine with one click, earning...

    22 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.