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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

A Rejection At This Level Could Result in Bitcoin Falling to $8,000

Nick Chong
Nick Chong
1 year 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 pushing higher as it has normally done over past weekends. The price of the leading cryptocurrency currently is above $11,000 — a pivotal resistance level for BTC.

While this is positive for the cryptocurrency in the short term, analysts are still fearful that Bitcoin is subject to a steep retracement.

One analyst commented that BTC breaking below $10,600 on a weekly time frame could trigger one such retracement. $10,600 is important to Bitcoin as prices in that general vicinity have marked three previous tops to medium-term rallies.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

Bitcoin Needs to Hold $10,600 Moving Forward

Bitcoin must hold the $10,600 support on a weekly time frame or risk a retracement under $10,000, then towards $8,000 according to a cryptocurrency trader.

The individual shared the chart seen below on September 18th, which shows that Bitcoin should maintain the support of $10,600 moving forward to maintain its bullish bias:

“No matter how good (or bad) the low timeframes look, the $10.6k area is still one of the most important areas on the chart. This week closes below it? I’ll assume top is in and we’ll trade towards $8k. We close above it? I’ll close shorts and see what happens next.”

Image

Chart of BTC's price action since the setart of 2019 with a range analysis by crypto trader DonAlt (@CryptoDonAlt on Twitter). Chart from TradingView.com
Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million

May Be Tough to Hold

On a shorter-term time frame, the same trader is also bearish, pointing to clear technical pressure around the $11,000 range.

He wrote on recent price action:

“Closed the rest of my adds for an avg. gain of $150, I wanted to see a strong breakdown, doesn’t look like I’m going to get it and I’ll be out tonight, so can’t monitor. Looks like there will either be better opportunities later or safer opportunities lower down.”

Othres have also noted that theres’ a good likelihood that Bitcoin tops in the current range due to it acting as a point of historical support in August.

For instance, the number of corrections that took place throughout August all ended in the $11,000-11,300 band. Bitcoin failing to reclaim that level may confirm expectations of a bearish retracement back towards range lows at $10,000.

Related Reading: It’s “Logical” for Ethereum To Reject At Current Prices: Here’s Why
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
A Rejection At This Level Could Result in Bitcoin Falling to $8,000
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

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 Resumes Upward Move

Bitcoin Price Resumes Upward Move — Can It Break New Highs?

Bitcoin price started a fresh increase above the $108,500 zone. BTC is now consolidating and might aim for more gains...

Aayush Jindal 7 hours ago
Bitcoin

Brazil’s Central Bank Hacked—$40M In Crypto Washed In Aftermath

Bitcoin is again in the spotlight as hackers hogged the headlines following a June 30 attack on C&M Software. The breach...

Christian Encila 2 hours ago
Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

The price of Bitcoin (BTC) has not been particularly impressive over the weekend, which has been a somewhat consistent theme...

Opeyemi Sule 17 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

BTC Bull Token tiek palaists šodien – jaunā kriptovalūtas sensācija ar bezmaksas Bitcoin atlīdzībām

lasma 55 minutes ago
Dogecoin price analysis

Chartist Slams Misleading Dogecoin Analysis: ‘Focus On This Instead’

Jake Simmons 1 hour ago

本月最熱門迷因幣價格反彈:哪些冷門項目有望暴漲100倍?

Mark Mak 4 hours ago

Premium Sponsors

Press Releases

  • MEXC Releases Bimonthly Transparency Report: $559 Million...

    1 hour ago
  • Make $8,000 a day in stable passive income easily –...

    17 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    18 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    2 days 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.