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: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ
  • 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: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Bitcoin Stable Near $30,000 But The Bearish Leg Is Far From Over

anushsamal
anushsamal
1 year ago
2 mins read
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.

Bitcoin has been getting stable at its crucial support level of $30,000. For over a week now, Bitcoin has been trading near its immediate support level.

Over the last week, the coin lost close to 6% of its value and in the last 24 hours, BTC fell by 3%. The past week has been extremely choppy for Bitcoin and also for the altcoin due to continued market weakness.

The coin had plunged to a low of $25,000, BTC had last traded about that price level in December 2020.

Bitcoin has recovered by $5000, however, a chance of a further downslide cannot be ruled out.  The technical of the coin pointed towards continued selling pressure in the market.

Bitcoin Price Analysis: One Day Chart

Bitcoin
Bitcoin was trading at $29,000 on the one day chart | Source: BTCUSD on TradingView

Bitcoin was priced at $29,100 at the time of writing after the coin was rejected from the $31,000 price level. Immediate resistance for the coin stood at $25,000.

A fall beneath the same will send the coin straight to $19,000. On the flip side, if the bulls send a temporary relief then the coin will target moving above the $30,000 price level and trade close to the $31,000 resistance mark.

The volume of Bitcoin traded was seen in the red which indicated bearishness on the one day chart.

Technical Analysis

Bitcoin
Bitcoin registered increased selling pressure on the one-week chart | Source: BTCUSD on TradingView

Bitcoin might have been able to show signs of stability on the chart but further signs show that the coin can soon plummet again. King coin was trading underneath the 20-SMA line which meant that sellers were dominating the price momentum in the market.

Support from the buyers can push the coin above the immediate resistance of $30,000. The support from buyers seems like an unlikely situation considering how the coin has formed a bearish flag (yellow).

A bearish flag indicates further push from the bears and this could cause the coin to trade below the $20,000 support mark.

The coin hadn’t touched the $20,000 price level in over a year now. The Relative Strength Index was below the half-line which indicated that sellers are still in charge as shown by the SMA lines.

Related Reading | Bitcoin Bearish Signal: Whales Ramp Up Dumping

Bitcoin
Bitcoin continued to receive lower capital inflows on the one-week chart | Source: BTCUSD on TradingView

Bitcoin’s bearish flag reflected how the coin continued to fall on the chart after the pattern was formed. The bulls have tired out from the constant battle with sellers. In accordance with the same reading, Awesome Oscillator flashed bearishness.

The indicator dictates the price momentum of the market and red histograms underneath the half-line meant a sell signal for the coin.

If sellers continue to act on it, $20,000 can soon be on the charts. Chaikin Money Flow is responsible for depicting capital inflows and outflows. The indicator was below the half line because capital outflows were still dominant at press time.

Related Reading | TA: Bitcoin Eyes Fresh Increase But This Level Is The Key

Tweet123Share196ShareSend
anushsamal
anushsamal

anushsamal

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

Previsioni Ethereum: Scenari Futuri Secondo Citigroup 

Dopo aver raggiunto un massimo storico (ATH) lo scorso agosto, Ethereum (ETH), la seconda criptovaluta più grande per capitalizzazione di...

clararosati 1 hour ago
ethereum koers, ethereum verwachting, eth koers, ethereum verwachting, altcoin

ETH koers klaar voor 77% stijging door enorme bull flag vandaag

Na een mislukte poging om de weerstand bij de $4.811 te testen, moest de Ethereum koers snel genoegen nemen met...

Lars Diederiksen 1 hour ago
perpetual-futures-crypto

Perpetual Futures Crypto : guide complet

Les perpetual futures (perpétuels) sont partout. Pas d’échéance, trading 24/7, levier modulable, et souvent plus de liquidité que le spot....

guillaumev 1 hour 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

3 low-cap altcoiny, ktoré zaznamenávajú veľkú akumuláciu, keď sa altcoin sezóna rozbieha

Kováč Martin 41 minutes ago

Solana Sees Institutional Accumulation: 413,075 SOL Moved Off Exchanges In Hours

Sebastian Villafuerte 45 minutes ago

美聯儲降息開啟 迷因幣獵季來臨? Snorter Bot代幣率先示範

estherw 46 minutes ago

Premium Sponsors

Press Releases

  • リップル 今後の行方:FOMC前に3ドルを維持、クジラが大量売却

    リップル...

    4 minutes ago
  • 2025年9月に注目すべき仮想通貨プレセール一覧

    ...

    28 minutes ago
  • Citiが年末目標を4,300ドルと予測、市場のセンチメントは交錯

    イーサリアム...

    46 minutes ago
  • 仮想通貨おすすめ:2025年に投資先として注目すべきコイン

    ...

    50 minutes ago
  • 戦略的準備金法案が前進、専門家は15万ドル到達を予測

    ビットコイン...

    53 minutes 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.