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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin (BTC) Reclaiming $8,700 Sets Stage For Instrumental Push to $9,000

Nick Chong
Nick Chong
1 year ago
3 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.

For the time being, Bitcoin (BTC) has stabilized, finding itself trading in no man’s land around $8,500 over the past day. If the cryptocurrency begins to make a move on $8,700, however, analysts are sure that things will start to heat up once again, giving BTC the momentum to push higher in yet another massive leg to the upside.

Related Reading: Why All Bitcoin and Crypto Investors Should Consider U2F Security Keys

Bitcoin Needs To Reclaim $8,700

Just days ago, we saw Bitcoin experience a crazy bout of price action, trading between $8,000 and $9,100 within a six-hour time frame. Although BTC briefly tapped $9,100, breaking above the key $9,000 resistance level for a split-second, this surge ended up turning out bearish for the cryptocurrency market. After the aforementioned level was reached, BTC plummeted by $1,000 in the hour that followed, negating last weekend’s breakout.

Related Reading: Ethereum: Despite Recent Bearishness, ETH Still Has Incredibly Strong Fundamentals

But, after the sell-off, which almost resembled a flash crash, cooled, bulls began to take control of the wheel yet again. As of the time of writing, BTC sits at $8,550 and is currently trending higher in the short term.

Zoomed in version.

You want this retest to hold and we’ll head to the 618.$BTC pic.twitter.com/9hyTcPiEdv

— ₿-Eazy ? (@cryptoeazy) May 31, 2019

Analyst CryptoEazy points out, the best-case scenario from here would be for Bitcoin to retest, reclaim, and hold above the 0.618 Fibonacci Retracement level of the $8,000 to $9,100 range, which sits just shy of $8,700. He isn’t the first to think so. Popular commentator Mayne notes that if $8,700 is entirely reclaimed, meaning a number of candles (one-hour/four-hour) close strong above that level, he would be inclined to go “net long AF”.

As Josh Rager, a well-known crypto trader, draws attention to, “a cross and hold above $8731 would be bullish for a push back up over $9k.” Indeed, Bitcoin holding above $8,700 has recently been a sign that balls are in the bulls’ court.

https://twitter.com/Josh_Rager/status/1134638279918329857

What About A Pullback? 

Some have been adamant that a pullback is inbound, however.

The thing is, the cryptocurrency market has been on an absolute tear for the past eight weeks. Bitcoin has rallied by over 100%, while some altcoins, like Binance Coin (BNB), Litecoin, and Chainlink, have, to put it (not so) lightly, gone to the moon. As Ikigai’s Travis Kling recently pointed out, Bitcoin is up 129% year-to-date, while BNB has seen a jaw-dropping 432% performance, rallying off the exchange’s commitment to building a value proposition for the token.

Let's take a moment to celebrate May 2019. BTC just put in a Top 5 monthly performance (since 2013). It is now 168% off the lows from mid-December.

If BTC does another 168% from here, price will be $23,000.

Lol. pic.twitter.com/h3Il8d4chm

— Travis Kling (@Travis_Kling) June 1, 2019

In any other market, investors would be doing their utmost to secure profits, liquidating their digital asset stashes for fiat. Ironically so, it would be kind of like a bank run, with speculators running for the hills to secure their “lambo money”.

Here we are, though, with BTC continuing to post higher lows and higher highs. Yet, some analysts have suggested that bulls are getting exhausted at a rapid pace. Per previous reports from NewsBTC, Bitcoin Bravado’s Jack believes that the $4,900 to $5,125 region will act as somewhat of a price “magnet” in the coming months.

Firstly, Jack admitted that Bitcoin, more likely than not, will not see newer lows in this cycle, looking to the fact that from a high time frame point of view, the bull run is most likely on.

Yet, he notes that Bitcoin is most likely topping out, looking to the fact that when BTC moved above $8,300, that marked the fifth portion of the Elliot Wave pattern, and that the $8,800 resistance hasn’t been decidedly closed above. Bitcoin’s chart on shorter time frames also looks somewhat bearish. In fact, BTC has just broken below a descending channel and a medium-term trend line, and has topped twice at $8,900.

All this lends to the idea that BTC is quickly losing grip of its current uptrend, and could thus slip and/or take a ‘chill pill’.

Featured Image from Shutterstock
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.

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

Ethereum

Ethereum Shines Bright As Bank Of America Begins Digital Asset Tracking

A new weekly “On Chain” report from Bank of America is shining a spotlight on Ethereum. According to the report,...

Christian Encila 2 hours ago
Snorter

Kateri Telegram bot bi lahko bil naslednja kriptovaluta s 100x donosom?

Ker je priljubljenost Telegram botov eksplodirala, se Snorter telegram bot pojavlja kot resen tekmec Banana Gun z nizkimi pristojbinami, hitrostjo...

tanjapotocnik 2 hours ago
meme coins

Meme coins καταγράφουν νέα κέρδη καθώς το Bitcoin ξεπερνά τα 122.000 δολάρια

Η αγορά των meme coins φαίνεται να ακολουθεί τη γενικότερη ανοδική πορεία του Bitcoin, το οποίο ξεπέρασε τα 122.000 δολάρια...

Ιωάννης Ριζόπουλος 3 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

Cardano

A Breakout To Remember: Cardano Price Mirrors Market Conditions That Led To $3.10 ATH

Scott Matherson 13 minutes ago
Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Sebastian Villafuerte 1 hour ago

Price Isn’t the Only Thing Rising – FUNToken’s Roadmap Execution Is Gaining Speed Too

News BTC 1 hour ago

Premium Sponsors

Press Releases

  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    3 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    3 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    3 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    4 hours ago
  • 仮想通貨おすすめ|1ドル以下の3銘柄が2027年までに200ドルの投資を200万円に変える可能性

    ...

    4 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.