LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin News

Bitcoin Price Analysis: BTC/USD Another Key Support Breakdown

by Sara Jenn
December 7, 2018
in Bitcoin News, News, Trading
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Bitcoin is resuming its slide after consolidating close to the top of the descending channel on the 1-hour time frame. Price broke below a short-term falling wedge previously highlighted, as well as the yearly lows to create new ones.


Price could be due to test the mid-channel area of interest on the descending channel around the $3,200 mark. Stronger selling pressure could take it down to the channel bottom at $2,500-2,750.

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. The moving averages are in line with the channel top around the $4,000 mark to add to its strength as resistance.

RSI is also turning higher to signal that bullish momentum is returning. In that case, the price might still make a pullback to the broken lows at $3,700 to gather more selling pressure. A break past the moving averages could indicate that a reversal from the slide is still possible. Stochastic is also dipping into the oversold region to signal that sellers are tired and that buyers could take over soon.

BTC/USD Chart - TradingView

Bitcoin seems to be reeling from the SEC announcement to once again delay its decision on the ETF applications from VanEck and SolidX. According to the regulator, this gives them more time to take in more comments and look into whether or not there are enough consumer protection measures in place.

Still, this decision shouldn’t have come as a surprise since SEC Chairperson Clayton already mentioned in earlier remarks that they’re not likely to approve Bitcoin ETFs anytime soon.

Note, also, that their decision to postpone comes after a meeting with representatives from both companies who pointed out similarities between the commodities like gold which have their own ETFs. They even noted that Bitcoin could be less prone to market manipulation compared to these traditional assets.


Images courtesy of TradingView

Related Posts

Company Accused of Using COVID Relief Funds to Buy Crypto
Bitcoin News

Company Accused of Using COVID Relief Funds to Buy Crypto

The owner of the Carolina Fish Market in Ballantyne, North Carolina is in trouble for using a COVID-based loan...

by Nick Marinoff
September 21, 2023
PayPal is Now Issuing Its Own Stable Coin
Altcoin News

PayPal is Now Issuing Its Own Stable Coin

PayPal – the world’s biggest digital payment platform – has announced the release of a new USD-pegged stable asset...

by Nick Marinoff
September 21, 2023
Congressman Ritchie Torres Slams the SEC for Anti-Crypto Measures
Bitcoin News

The SEC Must Finally Decide on a Bitcoin ETF Application from ARK Invest

The Securities and Exchange Commission (SEC) is required to give an official decision regarding a new bitcoin-based exchange-traded fund...

by Nick Marinoff
September 21, 2023
EOS Price
Altcoin News

EOS Price Analysis: Technical Indicators Suggest Increase To $0.64

EOS price is eyeing a fresh increase from the $0.525 support against the US Dollar. The price is now...

by Aayush Jindal
September 21, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • Alaya: The Pioneer of Artificial Intelligence Data

  • Zeebu Secures $25 Million in Presale Funding for World’s First On-chain Invoice Settlement...

  • Reef Labs $10M Accelerator Program COHORT 1 Begins, Paving the Way for Web3 Innovators

  • Registration for the Finance Magnates London Summit 2023 is officially open!

  • Tapbit Introduces Contract Copy Trading: Unlocking Profits for All Investors in the Cryptocurrency...

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…

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. 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.
Go to mobile version