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 Support Level May Spark Explosive Bull Movement, If It’s Defended

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.

Bitcoin (BTC) has found itself caught firmly within a bearish downtrend over the past several weeks, which has led its price to plummet down to $7,000, with today’s drop marking a full retrace of the gains that were incurred in late-October.

Analysts are now noting that Bitcoin is currently trading at a key long-term technical support level, which has historically catalyzed massive movements when it is ardently defended by buyers.

Bitcoin Plummets Below $7,000 Amidst Sharp Overnight Sell-Off

At the time of writing, Bitcoin is trading down 12% at its current price of $6,950, which marks a massive drop from its daily highs of nearly $8,000.

Bitcoin’s overnight drop below $7,000 marked an extension of the downwards momentum that was incurred yesterday when BTC plummeted from $8,000 to the mid-$7,000 region.

In the near-term, it is highly likely that Bitcoin will pause its descent at this level, as the $6,900 to $7,200 range marks the crypto’s “golden pocket,” which may allow it to find some much needed buying pressure that catalyzes a short-term rally.

Big Chonis, a popular cryptocurrency analyst on Twitter, spoke about this support level in a recent tweet, noting that it would be a “shame” to break below it.

“$BTC – the ‘golden pocket’ has been hit… it would be a shame to lose it as support,” he explained while pointing to the chart seen below.

$BTC – the “golden pocket” has been hit… it would be a shame to loose it as support #bitcoin pic.twitter.com/XyTzLnPAGT

— BIG Chonis (@BigChonis) November 22, 2019

BTC Hits Critical Technical Support Level; Massive Movement Could be Inbound

In addition to reaching its “golden pocket,” Bitcoin has also visited its 89-week EMA, which is a price region that is often ardently defended by bulls and may catalyze a massive bull movement in the near-term.

Mr. Anderson, a popular cryptocurrency analyst on Twitter, spoke about this possibility in a recent tweet, explaining that visits to this region are often closely followed by big movements.

“$BTC Fight for the 89-Week EMA back in play for Spot BTC. This is an area that is often fought for and often produces large moves once the war is won,” he explained while referencing the below charts.

$BTC

Fight for the 89-Week EMA back in play for Spot BTC

This is an area that is often fought for and often produces large moves once the war is won pic.twitter.com/DOg2l9QXxh

— Mr. Anderson (@TrueCrypto28) November 22, 2019

How BTC responds to its near-term support levels could offer significant insight into which direction the markets will trend as 2019 draws to a close.

Featured image from Shutterstock.
Tweet123Share225ShareSend
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

bitcoin-booms-bitcoin-hyper-raises-2-5m-btc-l2-bet

Bitcoin Booms, and So Does Bitcoin Hyper — $2.5M Raised as Investors Bet on $BTC L2

Bitcoin has just surpassed the $120K mark, signaling a strong return of investor confidence. As capital flows beyond Bitcoin, altcoins...

Aaron Walker 2 hours ago
ChatGPT: XRP koers klaar voor nieuwe ATH in juli? Ripple kan stijgen naar $27 tijdens bull run

ChatGPT: XRP koers klaar voor nieuwe ATH in juli? Ripple kan stijgen naar $27 tijdens bull run

Ripple (XRP) staat in de schijnwerpers nu de koers stevig momentum vasthoudt tijdens de bull run van 2025. Met een...

Lars Diederiksen 2 hours ago
Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Price Breaks 8-Year Resistance Line That Failed In 2017-2021

With the Bitcoin price rising to new all-time highs every other day, more crypto analysts have come forth with their...

Scott Matherson 4 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

Bitcoin Ignites Intraday Optimism With A Step Past $119,000 Threshold

Godspower Owie 1 hour ago

È Appena Iniziato il Superciclo di Liquidità di Bitcoin, Dice il CEO di un Hedge Fund

clararosati 2 hours ago
Dogecoin price news

Fibonacci Maps Dogecoin Path To $23—Is It Too Far-Fetched?

Jake Simmons 2 hours ago

Premium Sponsors

Press Releases

  • ETHRANSACTION Core Breakthrough! New users get $19 starter...

    1 hour ago
  • 2 jeftine kriptovalute s potencijalom rasta od 9.000% –...

    1 hour ago
  • Predviđanje Cijene Snorter Token (SNORT) – Analiza i Projekcije 2025–2030

    Fartcoin, dogwifhat Tăng Mạnh – Snorter Được Dự...

    2 hours ago
  • ...

    2 hours ago
  • ico 仮想通貨注目:Snorter Tokenが2025年の有力候補に

    ico...

    2 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.