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 Caught in Consolidation Phase as Big Movement Nears

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.

After finding some levels of support around $10,000 yesterday, Bitcoin’s bulls were unable to support its price above this level and BTC has now once again dropped into the upper-$9,000 region.

Analysts are currently noting that it appears Bitcoin is currently caught within a consolidation phase, but it is highly improbable that this phase will extend much further, as another major movement is likely imminent.

Bitcoin Breaks Below $10,000

At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,900, which marks a slight retrace from its daily highs of nearly $10,100.

Bitcoin’s dip below $10,000 comes as the crypto community reacts to a somewhat disappointing Bakkt launch, as the physically settled Bitcoin futures platform has not yet garnered any noteworthy utilization from large investors.

The platform is still quite early into its launch and analysts are noting that it is still a very important development for the crypto markets, but it remains unclear as to whether or not Bakkt will actually catalyze any significant movement within the markets in the near-future.

Jacob Canfield, a popular crypto analyst on Twitter, spoke to his over 30k followers on Twitter about BTC’s current technical strength, explaining that it is gearing up for a big movement.

“#Bitcoin / $BTC / #BTC – Below most key MA’s on the daily time frame – Declining volume and volatility usually means a big move is coming – RSI wedge on support – Funding close to resetting with longs paying shorts the last month – Supports if we break down at $9500, $8800, $7000,” he explained in a recent tweet.

#Bitcoin / $BTC / #BTC
– Below most key MA's on the daily time frame
– Declining volume and volatility usually means a big move is coming
– RSI wedge on support
– Funding close to resetting with longs paying shorts the last month
– Supports if we break down at $9500, $8800, $7000 pic.twitter.com/MkItBFt3SQ

— Jacob Canfield (@JacobCanfield) September 23, 2019

Will BTC’s Consolidation Phase Be Followed by Uptrend? 

It is important to note that Bitcoin is currently caught in a consolidation phase, and Beetcoin, another popular crypto analyst on Twitter, explained in a recent tweet that he would not be surprised if BTC dips from here.

“#Bitcoin ($CRYPTO) Stages 2015 – 2019: September update. Still in the consolidation chopping traders left & right (you’ve been warned!). The RSI now looks exhausted. I won’t be surprise if it dips from there. Question: will it be a fake move down (quick recover) or worse?”

#Bitcoin ($CRYPTO) Stages 2015 – 2019: September update

Still in the consolidation chopping traders left & right (you've been warned!).

The RSI now looks exhausted. I won't be surprise if it dips from there.

Question: will it be a fake move down (quick recover) or worse? pic.twitter.com/fWO0r1kka9

— Beetcoin 🦇🔊 (@Beetcoin) September 23, 2019

The coming days and weeks will likely illuminate which direction Bitcoin will trend over the coming months, as a decisive downwards break from its current levels could generate technical damage that impacts its price for the rest of 2019.

Featured image from Shutterstock.
Tweet123Share196ShareSend
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

Станут ли 600 000 BTC точкой невозврата?

Запас биткоинов MicroStrategy составляет 597 325 биткоинов общей стоимостью почти $65 млрд, и следующий шаг может привести к тому, что...

lisachaikina 3 hours ago
Strategy

No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

Strategy (previously MicroStrategy), the Bitcoin proxy firm co-founded by Bitcoin bull Michael Saylor, has made headlines once again on Monday,...

Ronaldo Marquez 4 hours ago
Bitcoin

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

After achieving its highest weekly close to date, Bitcoin (BTC) is now attempting to confirm two crucial levels as support...

Rubmar Garcia 5 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 news

2025’s Biggest Bitcoin Bull Trigger Is Still Hidden, Expert Reveals

Jake Simmons 1 hour ago
Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

newsbtc 1 hour ago
Bitcoin price crash

50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • SEC, Quidax Bring Together Top Banks, Asset Managers to...

    1 hour ago
  • Wzrost altcoinów zgodny z tematyką artykułu

    3 Altcoins, na które warto zwrócić uwagę w pierwszym...

    2 hours ago
  • MEXC Ventures Hosts Successful “Kickstart Your...

    2 hours ago
  • Alternativni kripto uz DOGE koji bi mogao pretvoriti 650 $...

    3 hours ago
  • Token6900

    TOKEN6900: Meme Coin Tiềm Năng Với Presale Rẻ...

    3 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.