• 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
  • Bitcoin Casino ReviewsTry
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
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Worst Quarterly Bitcoin Crash In A Decade Closes Above Key Support

Tony Spilotro by Tony Spilotro
1 month ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Last week, when the June monthly candle came to a close in Bitcoin, it also signaled the end to the second quarter of the year and its first half. The top cryptocurrency suffered its worst quarterly decline since 2011, but it ultimately held above a key support level.

Here is a closer look at the quarterly support level currently holding in BTCUSD and how it has put in nearly ever major bottom in the past.

Bitcoin Crash Falls To Level Where Bear Markets Bottom

Throughout the 2018 bear market, a primary narrative giving hope to bag holders, was the fact that institutions would eventually get into Bitcoin and it would make all the difference. Institutions did find their way into crypto eventually, leaving many of them at risk of insolvency.

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

Larger institutions are known to take positions by quarter, and with two abysmal quarters in a row of performance in crypto, institutions could be ready to get back in.

Related Reading | Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

The recent selloff took Bitcoin price a lot lower than many would have expected – to the tune of more than 50%, making it the worst quarterly close in a decade. It also landed dead smack on the middle-Bollinger Band.

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

BTCUSD_2022-07-06_15-03-38

BTCUSD quarterly closes above the middle-SMA | Source: BTCUSD on TradingView.com

How To Read The Bollinger Bands And What Comes Next

The Bollinger Bands are a volatility measuring tool, designed by John Bollinger in the 1980s. The middle-Bollinger Band is a 20-period moving average, with the upper and lower bands set at 2 standard deviations.

Based on statistics, most price action takes place within the upper and lower bands. Passing above or below the SMA is considered a buy or sell signal.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Each bear market in the past has touched down on this same SMA ahead of the 2016 and 2017 bull run, and then again ahead of the 2020 bull run. Bitcoin price is back at this line again, touching it for the second quarter in a row.

BTCUSD_2022-07-06_15-09-57

BTCUSD monthly touches down on the lower Bollinger Band | Source: BTCUSD on TradingView.com

Falling through the SMA would be unprecedented in the history of Bitcoin. But Bitcoin has been doing unprecedented things recently. For example, the same tool above shows the first ever touch of the lower Bollinger Band on monthly timeframes.

Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next?

In theory, price is considered low relative to the history of the asset when prices are at the lower end of the bands, while the opposite is true when an asset is touching the upper bands. By this take, Bitcoin price is potentially at the lowest point ever relative to monthly and quarterly price action.

Could this mean an unprecedented recovery is soon on the way, or could Bitcoin ultimately lose the SMA and a more catastrophic move results?

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com
Tags: bitcoinBollinger bandsbtcbtcusdBTCUSDTcryptoxbt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin

Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time

3 hours ago
Taro Taro Taro

Lightning Speed: Taro Wants To Abolish Cross-Border Payments, Disrupt The Market

1 day ago
Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

2 days ago
Bitcoin Bear

Bitcoin Bearish Signal: Whales With 1k-10k BTC Depositing To Exchanges

2 days ago
Bitcoin Bear

Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction

3 days ago
Is Bitcoin Price Hiking Due To An External Reason, What Does The Data Suggest

Is The Bitcoin Surge Due To An External Reason? What The Data Suggests

3 days 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
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Keninah Concord And Fantom, Paired with Baby Doge Coin Will Give You a Well-Balanced Wallet!

August 14, 2022

Can Carlossy Caterpillar Achieve What Meme Coin Giants Dogecoin and Shiba Inu have?

August 14, 2022

To Take DeFi To The Next Level, We Need Killer App, says Ripple Executive. Can Youniverze Be The One?

August 14, 2022

GNOX (GNOX): Likely Top 50 Crypto Similar To EOS (EOS) And Sandbox (SAND) After Presale Sold-Out Quickly

August 14, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 14, 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
  • Bitcoin Casino Reviews

© 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.