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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Watch Out Bulls, Bitcoin Technical Formation Signals Price Pullback is Highly Likely in Near-Term

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 and the aggregated crypto markets have been on the up-and-up as of late, with BTC surging from its year-to-date lows in the $3,000 region to recently established highs of well above $11,000.

This upwards momentum has drastically shifted the overall market sentiment and has led most investors to turn incredibly bullish. Although bulls are firmly in control as of now, one analyst is now pointing to a technical formation that signals Bitcoin may be ready for a pullback.

Bitcoin Surges Into $11,000 Region as Buying Pressure Sizzles

At the time of writing, Bitcoin is trading up nearly 4% at its current price of $11,340 and is up significantly from its daily lows of $10,800.

Yesterday, BTC once again extended its upwards momentum, running from lows of $10,800 to highs of nearly $11,500. This surge signaled that Bitcoin’s bulls are not yet ready to surrender their control over the cryptocurrency, but they may not be able to maintain their strength for too long.

It is important to note that this recent price surge has pushed Bitcoin’s price up against its weekly resistance, which may prove to be too strong to be broken above in the near-term.

The Crypto Dog, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that although Bitcoin may soon retrace, it could provide an ideal set up for altcoins to run higher.

“$BTC tapping weekly resistance and very close to the 50% retracement from 2017 top to the 2018 bottom. A retrace here to reload would be ideal – $ALTs sure would appreciate it,” he explained.

https://twitter.com/thecryptodog/status/1143521387010674689

Is BTC Destined for a Price Retrace?

Other analysts agree that Bitcoin is likely to retrace in the near-future before it continues climbing higher, as it has been forming a technical formation that historically results in a pullback.

Alex Krüger, another popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that BTC is currently trading outside of its Keltner Channel, which has been historically followed by price retracements.

“Is $BTC overbought? Since 2014, $BTC has traded fully outside the Keltner Channel (2.5/20) with RSI >90 on NINE occasions. 6/9 times retraced to the open of preceding day in under 20 days (avg 10d). 1/9 times it took 79 days. 2/9 times it never retraced (May 2017),” he explained in a recent tweet.

Is $BTC overbought?

Since 2014, $BTC has traded fully outside the Keltner Channel (2.5/20) with RSI >90 on NINE occasions.

▷ 6/9 times retraced to the open of preceding day in under 20 days (avg 10d).

▷ 1/9 times it took 79 days.

▷ 2/9 times it never retraced (May 2017). pic.twitter.com/nsDzvuoijA

— Alex Krüger (@krugermacro) June 25, 2019

As the week continues on and Bitcoin continues to react to its newfound position within the $11,000 region, it is highly probable that analysts and investors alike will soon gain a better understanding of where the crypto markets are heading next.

Featured image from Shutterstock.
Tweet123Share251ShareSend
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

Pundit Warns Bitcoin Is Setting Up Liquidity Traps As It Campaigns For New ATHs

A seasoned crypto analyst has warned that the recent Bitcoin (BTC) price action may be setting the stage for major...

Scott Matherson 3 hours ago
Warning Signs? Long-Term Bitcoin Holders Take Profits as Leverage Spikes

Warning Signs? Long-Term Bitcoin Holders Take Profits as Leverage Spikes

Bitcoin continues to maintain its upward trajectory following a minor correction, now trading at $107,251, reflecting a 2.3% increase over...

Samuel Edyme 5 hours ago

免費比特幣空投獎勵引爆加密社區熱潮 BTCBULL預售倒數最後今日!

2025年加密市場熱度逐步升溫,一個名為Bitcoin BULL($BTCBULL)的迷因幣項目正在以「真實比特幣空投」作為武器,在短短數週內迅速吸引了大量資金與媒體焦點。隨著預售進入最後倒數階段,$...

Mark Mak 7 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

트럼프, 백악관 연설서 비트코인 지지… BTC불 토큰 수혜 볼까?

트럼프, 백악관 연설서 비트코인 지지… BTC불 토큰 수혜 볼까?

Soyeon Lee 2 minutes ago
XRP

Insane Or Insightful? VC Firm Says XRP Could Reach Nearly $9,000 In Just 5 Years

Christian Encila 1 hour ago
Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Sebastian Villafuerte 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール残り24時間で800万ドル目前 次の100倍銘柄となるか?

    ...

    11 hours ago
  • 1ドル以下で注目される仮想通貨おすすめ、Solana系トークンに割安銘柄あり?

    ...

    11 hours ago
  • Най-добрите криптовалути преди...

    11 hours ago
  • リップルとSECの訴訟終了後に注目すべき新しい仮想通貨プロジェクトとは

    ...

    11 hours ago
  • BTC

    仮想通貨 おすすめ:BTC Bull...

    12 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.