• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
Bitcoin BTC

Bitcoin: After Breaking Above $9k, Analysts Expect Several Years of Positive Price Action

Cole Petersen by Cole Petersen
4 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Several days ago, Bitcoin incurred a massive influx of buying pressure that sent it surging past its previous resistance levels that existed around $9,000. In the time since, however, BTC’s bulls have not been able to push it towards the ever-so-important $10k level, which may signal that it will face increased selling pressure in the near-term.

Despite this, Bitcoin’s recent bullishness has allowed it to form significant technical strength that may allow it to face several years of positive price action.

Bitcoin Must Hold Above $8,950 in Order for Bulls to Remain in Control 

At the time of writing, Bitcoin is trading down over 2% at its current price of $9,080 and is down from 24-hour highs of $9,400 that were set late-yesterday.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Over a one-week period, BTC surged from lows of $7,800 to highs of nearly $9,400, at which point it incurred some selling pressure that sent it reeling back to $9,000, which appears to have become a level of relative support for the cryptocurrency.

Through the course of Bitcoin’s recent uptrend, the cryptocurrency has required time after each upwards swing for it to consolidate while it garners greater buying strength, which may mean that BTC will face a small bout of sideways trading around its current price level before it continues climbing higher.

In order for further gains to be imminent, analysts are now noting that the crypto must hold above $8,950 in the near-term.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

“$BTC – $8950 tagged. I’m actually glad there was a breakdown before a move up. A potential breakdown would have been hanging over my head. Strong reaction from $8950. My areas of interest still apply. Do not want to see a 1h close below $8980,” UB, a popular cryptocurrency analyst on Twitter, noted in a recent tweet.

$BTC – $8950 tagged ✔

I'm actually glad there was a breakdown before a move up. A potential breakdown would have been hanging over my head.

Strong reaction from $8950. My areas of interest still apply. Do not want to see a 1h close below $8980. #Bitcoin pic.twitter.com/PgwnefY0h2

— UB (@CryptoUB) June 18, 2019

Analyst: BTC May Face Several Years of Positive Price Action

Bitcoin’s recent upwards momentum has allowed it to incur strengthening technical formations, which may signal that significantly further gains are inbound in the near-future.

Josh Rager, a popular crypto analyst on Twitter, discussed one of these technical formations in a recent tweet, noting that Bitcoin’s Supper Guppy has flipped green on its one-week chart, which is historically followed by massive uptrends.

“It’s finally here… The Bitcoin Super Guppy has flipped green on the 1-week chart. 2012: 400-day uptrend followed a flip green. 2016: 700-day uptrend followed a flip green. 2019: the 1W Super Guppy has finally flipped green and it shall be a bountiful market the next few years,” he said while referencing the below chart.

It's finally here…

The Bitcoin Super Guppy has flipped green on the 1-week chart

2012: 400-day uptrend followed a flip green

2016: 700-day uptrend followed a flip green

2019: the 1W Super Guppy has finally flipped green and it shall be a bountiful market the next few years pic.twitter.com/6zAn1qgtBy

— Josh Rager ? (@Josh_Rager) June 18, 2019

As BTC continues to attempt to gain a strong foothold in the lower-$9,000 region, it will likely continue to grow clearer as to whether or not traders can expect a multi-year uptrend, or if further consolidation is needed before the crypto begins to surge towards its previously established all-time-highs.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
Tweet123Share404ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

Euler

Euler (EUL) Up 25% As Hacker Returns 51,000 ETH From Stolen Loot

9 hours ago
Pooky, The NFT Football Prediction Game That Pays, Launches Today

Pooky, The NFT Football Prediction Game That Pays, Launches Today

1 day ago
Bitcoin

Bitcoin Price Action Mirrors Q1 2021, Volatility Ahead?

2 days ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

2 days ago
Bitcoin

Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

2 days ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

2 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Bashar DAO Launches BASHAR Token: For the Betterment of the Arab Region

March 26, 2023

Futures of metaverse tokens like The Sandbox (SAND), and Decentraland (MANA) are very blurry, while Defi Giant RenQ Finance (RENQ) remains the hottest crypto of 2023

March 26, 2023

TMS Network (TMSN) Poised to Become the Next 1000x Token, Magic (MAGIC) Down 8.38%, and Binance (BNB) among the few Cryptos with an Exciting Future

March 26, 2023

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.