• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Here’s What Bitcoin’s Surge Off Its Daily Lows Says About Where It’s Heading Next

Cole Petersen by Cole Petersen
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Ethereum ETH
Advertisement

Bitcoin’s bulls were able to defend BTC from facing a much steeper sell-off today, which comes closely on the heels of the recent rejection the cryptocurrency experienced, which to many investors signaled that significantly further losses were imminent.

Analysts are now explaining that bull’s ability to defend against further losses points to the possibility that the crypto will see further upside in the near-term, potentially even revisiting its recent highs within the upper-$7,000 region.

Bitcoin Bounces from Daily Lows at $7,050, Shows Hints of Bullishness

At the time of writing, Bitcoin is trading up just under 1% at its current price of $7,340, which is the highest level it has traded at all day.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Earlier this week, bulls attempted to spark a rally that sent the cryptocurrency surging to highs of $7,700, although this was quickly met with significant selling pressure that sent it reeling down to lows of $7,050 earlier this morning.

Today’s dip was quickly bough up by bulls, who were able to absorb the large amount of selling pressure that had been sparked by its recent rejection at $7,700.

UB, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that the bullish reaction to today’s dip towards $7,000 has – at least in the short-term – shifted the tides in favor of buyers, meaning that BTC may soon see further upwards momentum that leads it back into the upper-$7,000 region.

“$BTC – Closed my short… again. Strong reaction from the Range Low, hourly closed above intra-day S & R on decent volume. It’s starting to look like a move up to $7,500s or the Range High is possible,” he explained.

$BTC – Closed my short… again.

Strong reaction from the Range Low, hourly closed above intra-day S & R on decent volume.

It's starting to look like a move up to $7,500s or the Range High is possible. #Bitcoin pic.twitter.com/JZxJ3zTb2Z

— UB (@CryptoUB) December 27, 2019

If Bitcoin is once again rejected at its range highs within the upper-$7,000 region, it will likely signal that the crypto will continue its ongoing bout of sideways trading or see even further downside.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare10
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

Fundamentals go Out The Window, $1 Dogecoin incoming?

Fundamentals go Out The Window, $1 Dogecoin incoming?

2 hours ago
polkacover

PolkaCover Launches the Platform’s Demo Decentralized Application

2 hours ago
okex

Celsius Network’s CEL Token Now Listed on OKEx

4 hours ago
Cardano Founder Spills The Beans on “Fakeness” of Silicon Valley

Cardano Founder Spills The Beans on “Fakeness” of Silicon Valley

14 hours ago
Chainlink LINK

How Chainlink 2.0 Will Expand The Reach for DeFi and Smart Contracts

17 hours ago
Yearn Finance YFI

How DeFi Season Could Send YFI To $270,000 Per Token

18 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

User-Friendly Interface Is Key to Wisebitcoin’s Steady Growth

April 16, 2021

Sign up and Get Free $30 Coupon With Nhash Cloud Mining Services

April 15, 2021

On CROSS, NFT Loans is supported

April 15, 2021

Newsletter Signup


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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 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.