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

Bitcoin at Risk of Erasing 2020 Gains After Being Rejected at Key Level

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

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 faced a flash rally yesterday evening that led the crypto to break above $9,600 before almost instantly incurring a significant amount of selling pressure that led BTC to plummet into the $9,300 region.

Bull’s inability to decisively close the cryptocurrency above its key resistance at $9,500 points to the possibility that bulls are losing their strength, and may even suggest that the crypto will drift significantly lower before buyers are able to catalyze another extended bout of upwards momentum.

Analysts are now noting that this latest firm rejection seems to suggest that BTC’s 2020 uptrend is over, and that the cryptocurrency could soon see a massive retrace down towards its year-to-date lows.

Bitcoin Struggles to Break Above $9,500, Leading Analysts to Flip Bearish

At the time of writing, Bitcoin is trading down 1% at its current price of $9,330, which marks a notable retrace from its daily highs of over $9,600 that were set at the peak of yesterday evening’s rally.

The fleeting nature of this rally may spell trouble for where Bitcoin trends next, as it suggests that the resistance around $9,500 may be insurmountable.

In the near-term, analysts agree with this sentiment, widely noting that this recent selloff has shifted BTC’s price action to be firmly bearish.

HornHairs, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that he believes BTC will see some further downside before it reaches a solid liquidity region.

“BTC: Price took out both last month’s high and November’s high last night and is now below the monthly open. I will likely operate from a bearish bias this week, seems like liquidity resides below, including a couple gaps yet to be filled on the CME chart,” he explained.

$BTC

Price took out both last month's high and November's high last night and is now below the monthly open.

I will likely operate from a bearish bias this week, seems like liquidity resides below, including a couple gaps yet to be filled on the CME chart. pic.twitter.com/zir6x1zUYx

— HornHairs 🌊 (@CryptoHornHairs) February 3, 2020

BTC Could Plummet as Low as $7,500 in the Near-Term

This short-term bearishness may fundamentally alter the bullish market structure that BTC has formed over the past several weeks, potentially leading it to drop back into the $7,000 region.

Teddy, a popular crypto analyst on Twitter, spoke about this in a recent tweet, telling his followers that Bitcoin’s failure to post a higher high during its recent rally suggests a massive drop is imminent.

“New week new weekly candle… Previous candle was monstrous, as it went from mind 8s to high 9s – causing a storm of euphoria, volatility and FOMO. Technically, it wasn’t bullish enough as it was rejected from resistance and thus failed to mark a higher high,” he explained.

https://twitter.com/teddycleps/status/1224212909984600064?s=21

How Bitcoin responds to the support it has established around $9,200 should elucidate whether or not analysts’ current bearishness is truly warranted, as a strong defense of this level could allow BTC to continue pushing higher.

Featured image from Shutterstock.
Tweet123Share224ShareSend
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.

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

With no more minting, $FUN can skyrocket 500% on fixed supply announcement

On June 19, 2025, FUNToken officially froze its supply forever, locking the smart contract to ensure no future minting, no...

News BTC 5 hours ago
Bitcoin price news

Bitcoin Breakout Is A Trap—Analyst Predicts Pain Before $160,000 Surge

Bitcoin may be breaking out—but don’t celebrate yet. Crypto analyst Cristian Chifoi warns that the current move is a deceptive...

Jake Simmons 6 hours ago

BTC Bull重金押注突破800萬 距離FOMO引爆日只剩72小時

在美國獨立日煙火綻放之際,BTC Bull Token (BTCBULL)已率先點燃行情,預售融資突破800萬美元大關,距離週一正式上所僅剩72小時倒計時! 現在已經沒有時間猶豫或觀望了。當 BTCB...

estherw 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

Bitunix bonus krypto giełda promocja USDT

Бонусная программа Bitunix: как зарабатывать на криптовалютах с максимумом прибыли в 2025?

lisachaikina 1 hour ago
Bitcoin

Bitcoin Price To See 52% Increase To $166,000, Analyst Reveals Tight Timeline

Scott Matherson 2 hours ago
Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus?

Sebastian Villafuerte 4 hours ago

Premium Sponsors

Press Releases

  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    9 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    9 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    9 hours ago
  • 仮想通貨おすすめ|米下院が大型法案可決、7月4日にビットコインが急騰

    ...

    9 hours ago
  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    10 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.