• 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

Key Technical Indicator Signals Bitcoin is Gearing Up for a Big Move

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

After inching higher yesterday, Bitcoin faced a somewhat strong rejection at just above $10,400, which has brought the cryptocurrency down towards its next key support level at $10,000. A failure for bulls to hold this level could mark a short-term trend shift that sends BTC significantly lower.

It is now important to note that one key technical indicator is pointing to the possibility that Bitcoin is gearing up for a massive movement, which means that the direction it will trend for the last several months of 2019 could soon grow increasingly clear.

Bitcoin Inches Lower After Facing Rejection at $10,400 

At the time of writing, Bitcoin is trading down nominally at its current price of $10,330, which marks a slight drop from its 24-hour highs of nearly $10,500.

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

Bitcoin’s rejection at this price level signals an underlying weakness for the crypto’s bulls, as they were not able to advance the crypto’s price to its heaviest near-term resistance level at $10,800.

Chonis Trading, a popular crypto analyst on Twitter, explained in a recent tweet that one indicator is pointing to the possibility that a massive movement is imminent.

“$BTC – (volatility index) entering the zone where Massive #bitcoin Price Moves are born,” he explained while pointing to the below indicator.

$BTC – (volatility index) entering the zone where Massive #bitcoin Price Moves are born… pic.twitter.com/AIbr4zOWdn

— Big Chonis Trading? (@BigChonis) September 15, 2019

Will BTC Break to the Downside?

As for which direction this incoming movement could send Bitcoin, Chonis also explained that BTC is currently expressing some similarities to its 2018 price action, which could point to the possibility that a massive drop is imminent.

“$BTC – continued similarities between this current #bitcoin price action and that of 2018 in relation to the EMA12/26 on the daily chart…note the eventual resolution of the price and EMA consolidation and tightening was to the downside in epic fashion,” he said while pointing to the below chart.

$BTC – continued similarities between this current #bitcoin price action and that of 2018 in relation to the EMA12/26 on the daily chart…note the eventual resolution of the price and EMA consolidation and tightening was to the downside in epic fashion. #history pic.twitter.com/IoAHsxKVqX

— Big Chonis Trading? (@BigChonis) September 15, 2019

 

The coming days and weeks could prove to be quite illuminating for analysts and investors alike, as BTC’s reaction to a drop towards $10,000 could set the tone for how the cryptocurrency will trend for the second half of the year.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare
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

Bitcoin BTC BTCUSD

How An Ex-CIA Director Proved Bitcoin Use in Crime is Declining

7 hours ago
Ripple XRP XRPUSDT

XRP Above $2? Why DeFi Integration Could Be Game Changer

8 hours ago
Binance Coin Coinbase IPO

Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring

8 hours ago
Bitcoin BTC BTCUSD

Bitcoin Funding Flips Bullish, But Are Liquidations Imminent?

9 hours ago
legal challenges

What Are the Legal Challenges That Crypto Faces and the Way Out?

9 hours ago
Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

12 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

Polkadex IDO Launches On Polkastarter on the 16th of April

April 13, 2021

Fast-Growing Exchange Bityard to Launch Its First Contest for Global Traders

April 13, 2021

Regtank Shortlisted As Finalist for Asia Fintech Awards 2021

April 13, 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.