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 Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000
  • 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 Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000

Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost

Reynaldo Marquez
Reynaldo Marquez
Last Updated: June 11, 2024 1:56 pm
2 mins read
Bitcoin BTC BTCUSD

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.

The bulls are given signs of conviction, as Bitcoin reclaims more ground. At the time of writing, BTC’s trades at $36,267 with sideways movement in the 1-hour chart and moderate gains in the 7-day and 30-day chart with 14.2% and 4.2%.

Bitcoin BTC BTCUSD
BTC pushes into resistance in the daily chart. Source: BTCUSD Tradingview

Some traders have begun to flip bullish as Bitcoin printed its first green candle in the weekly chart. The first cryptocurrency by market cap has faced a sell-off during the past 2 months and dropped from an all-time high at $64,000.

Although the outlook seems bullish in the short term, many are worried about an extension of the downtrend. Pseudonym trader “DonAlt” has been looking at Bitcoin monthly candle to find potential support areas.

The trader believes that there are indicators of a potential crash, bigger than the ones seen so far in 2021. Based on the BTC October monthly candle of 2020, $14,000 will act as support if the market “nukes”.

IF the market should crash I’ve got. Decent sized bids around $14000 BTC and $800 ETH. Smaller ones around $20k BTC and $1400 ETH. Not sure I’ll ever get filled but those are the only areas that are somewhat close to price that are decent enough to trade off of

$BTC monthly update:

$13.8k came and went in a flash.
HTF breakouts tend to be violent and this one sure was.

$14k is now the best support we've got.
Worst comes to worst I'll be there buying.

Can't really use the monthly for anything else given how far from support we are pic.twitter.com/TT6j6mTcGN

— DonAlt (@CryptoDonAlt) June 29, 2021

Bitcoin Price Short Term Targets And Support Areas

Economist and trader Michaël van de Poppe classified Bitcoin’s latest price action as a strong move above resistance levels. Investors should keep an eye on $35,000, if BTC’s price managed to stay above these levels, the next target is located around the $38,000 area.

Bitcoin BTC BTCUSD
Source: Michaël van de Poppe

As van de Poppe said, BTC’s next resistance could be a “critical breaker” for further upwards momentum. The chances of a breakout around those levels are high and, if the bulls have enough strength, the price could push into the $40,000 to $42,000 area. The trader added:

Funding remains to be negative, meaning that the majority is still eager to short the markets. The sentiment is still on the ground, understandable, through which FOMO can be fueled even more at a later stage. The higher we get -> the more FOMO we’ll see with Bitcoin.

However, Bitcoin must hold that area to sustain a move deep into previous highs. During the past weeks, BTC has been rejected precisely around the $40,000 area. Thus, van de Poppe doesn’t rule out a re-test of the lows at $30,000.

Now, I’d like to see it hold as support in order to continue moving to $38,000. Preferably even without a retest and just continuation towards those next levels. Overall -> good signals on the markets.

For altcoins such as Ethereum, Cardano, XRP, and others, the outlooks seem less optimistic in the short term. Bitcoin dominance has begun to pick up momentum and it could gain further traction as the market recovers.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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

Η τράπεζα της Αγγλίας bitcoin crypto Bank of England

Η Τράπεζα της Αγγλίας επιβεβαιώνει σχέδια ρύθμισης για τα stablecoins — Το $BEST ίσως είναι το καλύτερο κρυπτονόμισμα για αγορά τώρα

Η τράπεζα της Αγγλίας επιβεβαίωσε ότι βρίσκεται ένα βήμα πριν από την επίσημη παρουσίαση του νέου ρυθμιστικού της πλαισίου για...

Ιωάννης Ριζόπουλος 1 hour ago
XRP Price Prediction as Ripple Partners with Mastercard—Plus, What This Means to Bitcoin Hyper.

XRP Price Prediction as Ripple Partners with Mastercard—Plus, What This Means to Bitcoin Hyper

What to Know: ➡️ Ripple announced a partnership with Mastercard, WebBank, and Gemini, which would introduce settlement of its $RLUSD...

Aaron Walker 1 hour ago
Dogecoin

Analyst Says Dogecoin Price Is About To Burst, Here’s The Target

Crypto analyst Butterfly has provided a bullish outlook for the Dogecoin price, predicting that it could soon record a massive...

Scott Matherson 1 hour 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

Ethereum

$150 Million In Ethereum: Justin Sun Joins The Liquid Staking Rush

Christian Encila 3 minutes ago
Cardano Πρόβλεψη τιμής Cardano

Πρόβλεψη τιμής Cardano: Αναλυτής εντοπίζει σήμα αγοράς για ανοδική έκρηξη | Το SUBBD Token ανεβαίνει δυναμικά

Ιωάννης Ριζόπουλος 45 minutes ago

I perps su XRP di Gemini sbarcano in Europa — perché le altcoin di punta e token wallet come BEST stanno per accelerare

Orfeo Barone 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後:イーロン・マスクが「DOGE-1」計画で月面へ――1ドル到達の引き金となるか

    ドージコイン...

    2 minutes ago
  • リップル 今後:インド高裁がXRPを「財産」と認定、世界的な法的承認への道が開かれるか

    リップル...

    12 minutes ago
  • 仮想通貨プレセール市場で快進撃:市場低迷の中でも勢いを維持する新世代L2プロジェクト

    ...

    23 minutes ago
  • 仮想通貨おすすめ:ビットコイン反発とともに存在感を増す革新的L2トークン

    ...

    38 minutes ago
  • 新しい仮想通貨が2,600万ドルを突破:ビットコインの弱点を克服する次のブレイク候補

    ...

    50 minutes 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.