• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin BTC
Nexo Logo

History Suggests Bitcoin is Currently in Early Stages of Next Bull Run

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

After briefly incurring a significant influx of buying pressure, Bitcoin (BTC) has once again lost its momentum and is now nearing its key psychological support level at $10,000, which has proven to be a strong support level for the cryptocurrency in recent times.

In spite of this currently bearish price action, one analyst is noting that history suggests that Bitcoin may currently be in the early stages of the next massive bull run, which may mean that its current bearishness will ultimately prove to be fleeting.

Bitcoin Drops to $10,000

At the time of writing, Bitcoin is trading down just over 1.5% at its current price of $10,020, which marks a slight retrace from its 24-hour highs of over $10,200.

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

Bitcoin’s inability to gain any momentum as it trades sideways within the lower-$10,000 region appears to be spelling trouble for the cryptocurrency’s bulls, as it is beginning to look increasingly likely that another drop into the four-figure price region is imminent.

Previously, BTC has found significant support within the lower-$9,000 region, and this is the price region that analysts will be closely watching in the near-term.

UB, a crypto analyst on Twitter, spoke about Bitcoin’s current price action in a recent tweet, explaining that he expects it to drop lower in the coming days after facing a rejection at $10,450.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“$BTC – Despite the strong Daily Candle, Bitcoin is still unable to close above Diagonal Resistance / $10,450. You can see many examples on the Hourly Chart when significant wicks lead to nothing. Typically, the wicks get “filled” and price continues in that direction,” he noted.

$BTC – Despite the strong Daily Candle, Bitcoin is still unable to close above Diagonal Resistance / $10,450.

You can see many examples on the Hourly Chart when significant wicks lead to nothing.

Typically the wicks get "filled" and price continues in that direction. #BTC pic.twitter.com/yAKKxHYZZp

— UB (@CryptoUB) September 21, 2019

 

Will BTC Soon Enter Next Parabolic Phase?

Willy Woo, another popular crypto analyst on Twitter, spoke about the possibility that BTC is currently in the early-stages of the next bull run in a recent tweet, pointing to a historical pattern that shows that BTC may soon see significantly further gains.

“Cheat sheet map of where we are in this bull market according to on-chain metrics. We’re closing up the opening act of the bull market and awaiting the middle bull market to commence,” Woo said while pointing to the below chart.

Cheat sheet map of where we are in this bull market according to on-chain metrics. We're closing up the opening act of the bull market, and awaiting the middle bull market to commence. pic.twitter.com/xkmY5i605G

— Willy Woo (@woonomic) September 21, 2019

The coming days and weeks may prove to be somewhat bearish for Bitcoin, but its long-term price action may be bolstered by bullish fundamentals that are seen within the on-chain data-based chart that Woo references above.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
Tweet123Share196ShareSend
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

The Nightly Mint: Daily NFT Recap

The Nightly Mint: Daily NFT Recap

20 mins ago
Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

3 hours ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

4 hours ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

7 hours ago
Bitcoin

Bitcoin Sets Record Streak For Bloodliest Weekly Trend yet

8 hours ago
JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

9 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

Pancakeswap to Start Listing Metallika token (METALLIKA)

May 25, 2022

Ariva celebrates 1st year anniversary with impressive achievements in the blockchain industry

May 25, 2022

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 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.