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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • 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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Here’s Why Bitcoin Price Could Drop Below $4,800 in Coming Weeks

Davit Babayan
Davit Babayan
1 year ago
2 mins read

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.

The bitcoin price continued its rally higher this Friday as traders kept their upside targets glued towards the 2018’s most traded price of $6,400.

The BTC/USD pair hit $6,337 on the US-based cryptocurrency exchange Coinbase to bring its net bullish rebound up 102 percent. The pair, according to market analyst Josh Rager, was now testing $6,427 as its near-term resistance while $6,345 was providing crucial support to bitcoin’s next potential upside action.

Rager also highlighted that bitcoin’s weekly RSI had crossed above 70 – an overbought territory – for the first time since January 1, 2018. The analyst said that the cryptocurrency needed a pullback, which would neutralize its market sentiment.

https://twitter.com/Josh_Rager/status/1126691028218535941

The RSI Pullback History

While the bitcoin price is not far away from achieving the $6,400ish target, its potential of extending its bullish momentum looks weak, at least in medium-term.

bitcoin
Bitcoin Price Dropped Dramatically to Neutralize its Weekly Overbought Conditions | Image Credits: TradingView.com

The cryptocurrency’s history shows extreme pullbacks whenever its momentum indicator, the RSI, charted into overbought territories (above 70) in a weekly chart. In Case 1, one can see the bitcoin price correcting downwards by up to 39.2-percent, two weeks after its RSI went above 70. Similarly, in Case 2, the bitcoin price goes through a similar downside correction just a week after its RSI peaks towards 115.

Case 3 tells the same story: the bitcoin price establishes its historical high towards approximately $20,000 as its RSI ventures deeply into its overbought territory. A week later, the price drops by as much as 43.22 percent, taking the RSI down alongside.

These cases offer plenty of evidence about traders’ behavior whenever the weekly RSI pops above 70. They can be applied to the current scenario, considering a pullback sentiment above $6,400 is also high. The dual technical factors could prompt bitcoin to begin at least a 24.95 percent correction to the downside, which will bring the price to a $4,804 – more or less.

Bitcoin Not Bearish

bitcoin
A Pullback is Good for the Bitcoin Market | Image Credits: TradingView.com

A sharp pullback will not accurately pull bitcoin out of its strong bullish bias, primarily due to strong fundamentals appearing in the market. Fidelity Investments, a Wall Street-friendly asset management firm, has announced it would start purchasing and selling bitcoins on behalf of its institutional clients. Billionaire president and chief executive officer, Abigail Johnson, will also be speaking at the upcoming Blockchain Week NYC. Any further updates from her regarding Fidelity’s bitcoin trading plan will play a key role in boosting the cryptocurrency’s spot market sentiment.

Coupled with technical factors, such as the new Golden Cross formation, the bitcoin market looks exceptionally bullish.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tweet123Share227ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

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

XRP Price Recovery Stalls

XRP Price Recovery Stalls – Traders Watching If Bulls Can Overcome Resistance

XRP price attempted a recovery wave above the $2.850 zone. The price is now struggling to clear $3.00 and might...

Aayush Jindal 2 hours ago

Bitcoin Funding Dynamics Shift As Binance Premium Signals Aggressive Longs

As Bitcoin (BTC) continues to remain range-bound between $110,000 – $115,000, data from crypto exchanges seems divided toward the leading...

Ash Tiwari 2 hours ago
hyperliquid-hits-record-59-hylq-brings-success-model-crypto-stocks-tw

Hyperliquid飆至歷史新高59美元 HYLQ移植成功概念入加密股票

2025年9月18日,Hyperliquid(HYPE)悄然觸及59美元的歷史高位。這個數字不只是K線上的一筆延伸,更是一段關於新型山寨幣敘事如何滲入主流注意力場域的縮影。市值超越Chainlink,...

Peter Chow 2 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

Bitcoin

Bitcoin HODLers Booked $120 Million In Profits During Price Crash: Data

Keshav Verma 12 minutes ago
Dogecoin (DOGE) Dips

Dogecoin (DOGE) Struggles Again – Is Market Preparing For Another Sharp Drop?

Aayush Jindal 1 hour ago
stellar xlm xlmusd

Stellar (XLM) Shows Signs of Strength: Analysts See $0.5 Target in Play

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • Aster na Binance vystrelil o 1800 % za týždeň napriek krachu trhu: Bude ďalším Bitcoin Hyper?

    Aster na Binance vystrelil o 1800 % za týždeň napriek...

    8 hours ago
  • Kryptomenové pokladničné zásoby sa prepadli, keď sa obchodníci presúvajú k bezpečnejším krypto predpredajom ako PEPENODE

    Kryptomenové pokladničné zásoby sa prepadli, keď sa...

    8 hours ago
  • Aster z Binance rośnie o 1800% w tydzień pomimo spadku na rynku: Czy Bitcoin Hyper będzie następny?

    Aster z Binance rośnie o 1800% w tydzień pomimo spadku na...

    11 hours ago
  • A kincstári kriptovaluta-részvények hanyatlása, miközben a kereskedők biztonságosabb kriptovaluta előértékesítések felé fordulnak, mint például a PEPENODE

    A kincstári kriptovaluta-részvények hanyatlása...

    11 hours ago
  • Aster z Binance rośnie o 1800% w tydzień pomimo spadku na rynku: Czy Bitcoin Hyper będzie następny?

    Aster z Binance rośnie o 1800% w tydzień pomimo spadku na...

    11 hours ago

Newsletter

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.