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 Could Correct Further To 100 SMA at $8,200 Before Fresh Increase

Aayush Jindal
Aayush Jindal
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 rallied to $9,500 before starting a downside correction against the US Dollar. BTC price might dip towards the $8,200 support zone before a fresh increase.

  • Bitcoin jumped more than 20% and tested the main target of $9,500 (as discussed yesterday).
  • The price is down more than 8% and it is now trading well below the $9,000 level.
  • There is a short term declining channel forming with resistance near $8,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct further towards $8,400 or $8,200 before a fresh increase.

Bitcoin Correcting Gains

Yesterday, we saw a strong pre-halving rally in bitcoin above the $8,000 and $8,500 resistance levels against the US Dollar. BTC price gained more than 20% and it even tested the main target of $9,500 (as discussed yesterday’s analysis using the daily chart).

A new monthly high is formed near $9,498 and the price recently started a substantial downside correction. There was a break below the $9,200 and $9,000 support levels.

Bitcoin even dived below the $8,800 level and tested the $8,400 support area. A low is formed near $8,405 and the price is currently trading above the 23.6% Fib retracement level of the recent decline from the $9,498 high to $8,405 low.

On the upside, an initial resistance is near the $8,800 level. There is also a short term declining channel forming with resistance near $8,800 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Bitcoin Price

Above the channel resistance, the next resistance is near the $8,950. It is close to the 50% Fib retracement level of the recent decline from the $9,498 high to $8,405 low.

To start a fresh increase, the bulls need to push the price above the channel resistance and then clear the $8,950 resistance. A successful follow through above the $9,000 level could pump the price towards the $9,200 and $9,500 levels in the near term.

Downside Thrust

On the downside, the first major support for bitcoin buyers is near the $8,400 level. The next major support is near the $8,200 level or the 100 hourly simple moving average.

It seems like the price might dive towards the $8,400 support or the 100 hourly SMA to complete the current wave. Later, it is likely to start a fresh increase above $9,000 unless there is a close below $8,200.

Technical indicators:

Hourly MACD – The MACD is about to move into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising and it is near the 50 level.

Major Support Levels – $8,400 followed by $8,200.

Major Resistance Levels – $8,800, $8,950 and $9,000.

Tweet123Share237ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

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

XRP

Pundit Predicts XRP Price Will Surge 35,000% When These Two Things Happen

Crypto analyst Ripple Pundit has boldly predicted that the XRP price can surge 35,000%. He alluded to two things that...

Scott Matherson 7 hours ago
crypto

Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details

Popular market analyst and key opinion leader (KOL) Ted Pillows is projecting the crypto market to hit a $4.5 trillion...

Semilore Faleti 10 hours ago
Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s...

Scott Matherson 12 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

Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Scott Matherson 3 hours ago
Bitcoin

No Need To Panic, Bitcoin’s Peak Still Coming In October 2025 – Analyst

Semilore Faleti 4 hours ago
Litecoin

Litecoin Fate Tied To Bitcoin – Will $96 Resistance Crack?

Godspower Owie 6 hours ago

Premium Sponsors

Press Releases

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

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

    8 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    12 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    13 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    19 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.