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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin is On the Verge of Making a Massive Move, and it May Spark a 2020 Rally

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.

On the heels of yesterday’s massive Bitcoin rally, bulls have been able to support the cryptocurrency’s price well above its support at $7,000, with their current strength pointing to the possibility that BTC will soon see further upside.

It is important to note that the sideways trading at $7,300 that has resulted from this movement may soon resolve with a massive move, and multiple factors suggest that this upcoming price action will greatly favor bulls.

Bitcoin Enters Another Bout of Sideways Trading at $7,300

Over the past several weeks, Bitcoin has found itself caught within several bouts of sideways trading, and $7,300 always tends to be the price at which the cryptocurrency enters these consolidatory trends.

At the time of writing, Bitcoin is trading up nominally at its current price of $7,350, which marks a slight decline from its daily highs of over $7,400, but a notable climb from its lows of $6,800 that were set just a couple of days ago when bears gained firm but fleeting control over bulls.

Bitcoin appears to currently be on the verge of making a massive movement, as CryptoBirb, a popular crypto analyst on Twitter, recently noted that some further sideways trading could push BTC above a descending resistance line, with a break above this potentially leading it to climb towards $8,000.

“Ngl would be nice to finally see some movement other than eternal sideways. $btc could use some action in here tbh,” he concisely noted.

ngl would be nice to finally see some movement other than eternal sideways$btc could use some action in here tbh pic.twitter.com/V4Fo7Wf2wX

— Adrian Zduńczyk, CMT (@crypto_birb) January 4, 2020

Teddy, another popular analyst with a track record of accurate calls, told his followers that the support Bitcoin’s bulls are currently defending is a key level, and that a continued defense of this level could spark a massive upside movement.

“#BITCOIN | $BTC The cloud is your friend: In 2018 price ranged for 170 days on the median before breaking its support and flying down. Fast forward to today, price is testing the median as support again. Bounce: R of cloud 8.2k. Drop: S of cloud sub 6k – median = 89EMA,” he said.

https://twitter.com/teddycleps/status/1213352654832726016?s=20

This Technical Pattern Could Bolster BTC Bulls in the Near-Term

As for how Bitcoin may respond to the key levels discussed above, it does appear that bulls are currently better situated than bears to have control over the next movement.

At the moment, BTC is in the process of forming a bullish inverse head and shoulders pattern – which is a classic indicator that an asset has formed a bottom – but it must post a strong and decisive surge in the near-term in order for this possibility to be validated.

$BTC #Bitcoin 12 hour – Working on a right shoulder? pic.twitter.com/TRsFLEFwCw

— Cheds (Trading Quotes) (@BigCheds) January 4, 2020

The coming hours and days will offer insight into the validity of this pattern, and a confirmed break of the pattern’s neckline will mean that Bitcoin’s recent lows could be a long-term bottom.

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

Ethereum

Ethereum Outflow Signals Strength: 56,000 ETH Pulled From Exchanges

The steady appreciation in the Ethereum price continues to mirror how resilient the cryptocurrency has become in the market. Despite...

Opeyemi Sule 7 hours ago
Crypto airdrop season begonnen - belangrijkste ETH airdrops van 2025 onthuld

Crypto airdrop season begonnen – belangrijkste ETH airdrops van 2025 onthuld

De Ethereum community staat dit najaar in het teken van een nieuw signaal voor een crypto bull run: het crypto...

Lars Diederiksen 11 hours ago
Bitcoin

Analyst Says Bitcoin Is A Strong Buy If It Overcomes $118K — Here’s Why

The price of Bitcoin has struggled to capitalize on its recent bullish momentum, oscillating in and around the $116,000 level...

Opeyemi Sule 10 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

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Lars Diederiksen 1 hour ago
Solana

Solana (SOL) Bulls Complete Bullish Breakout — Eye $360 Mid-Term Target

Semilore Faleti 2 hours ago
Dogecoin

Dogecoin Hits Multi-Month High, Veteran Trader Says It’s A Critical Progress

Christian Encila 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    1 day ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    1 day ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    1 day ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    1 day ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    1 day ago

Newsletter

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.