The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Bitcoin

BTC Uptrend Shatters As Declines To $30,000 Beckon

by Miki 07/07/2021
by Miki 07/07/2021 0 comment
  • Bitcoin price pulls the entire market down as support at $33,000 is tested.
  • BTC’s short-term technical indicators flash sell signal as losses gain momentum.

Bitcoin price seems to have abandoned the uptrend toward $40,000 due to the resistance at $35,000. Over the last two weeks, BTC’s price action within the confines of an ascending parallel pattern.

In addition to the 200 Simple Moving Average (SMA) resistance, selling orders soared amid the bullish camp’s exhaustion. At the time of writing, support at $34,000 has been lost, giving Bitcoin leeway to explore the rabbit hole to $33,000.

Bitcoin price declines to $30,000 linger

The flagship cryptocurrency path with the slightest hurdles is downward based on the broken ascending channel’s support. Moreover, Bitcoin is currently trading beneath all the applied moving averages on the four-hour chart, including the 50 SMA, the 100 SMA, and the 200 SMA. In other words, support has been reduced to the bare minimum, which could accentuate the bearish outlook toward $30,000.

BTC/USD four-hour chart

BTC/USD price chart
BTC/USD price chart by Tradingview

Support at $33,000 remains critical to the resumption of the uptrend. However, if broken, traders should prepare for the correction to continue. The Relative Strength Index (RSI) has dipped below the midline and is closing in on the oversold region, adding credence to the bullish outlook.

The Moving Average Convergence Divergence (MACD) indicator has also presented a sell signal in the same four-hour timeframe. This indicator follows the trend of an asset and calculates its momentum. In turn, the MACD sends out bullish and negative signals.

Following the MACD line (blue) crossing beneath the signal line, a call to sell appeared. The MACD dip will reinforce this bearish outlook under the mean line (blue) into the negative region.

Note that bulls hope to secure the support at $33,000, but if they fail to, the next anchor is expected at $32,000, which may avert the bearish leg from extending to $30,000.

Bitcoin price intraday levels

Spot rate: $33,350

Trend: Bearish

Volatility: Expanding

Support: $33,000 and $32,000

Resistance: $34,000 and $36,000



Source link

Views: 1
BeckonBTCDeclinesShattersUptrend
Share
0
FacebookTwitterPinterestEmail
previous post
US Congressman Declares Investments in Dogecoin, Ethereum, Cardano – Regulation
next post
This potential Cardano catalyst could push its price to $5 by 2022

Related Posts

Elon Musk thinks this individual could be the...

12/29/2021

Bitcoin price trades under $48k as $6 billion...

12/29/2021

Indian security regulator warns mutual funds against investing...

12/29/2021

Bitcoin Will Remain ‘Digital Gold’, But Not A...

12/29/2021

Key Factors that Propelled Ether’s 4X Growth over...

12/28/2021

Gold Proponent Peter Schiff Claims Bitcoin is Losing...

12/28/2021

Trend Is Again Shifting From Outflows To Inflows

12/28/2021

Why Bitcoin Will Never Surpass The Market Cap...

12/28/2021

Crypto hacks led to $9.8 billion in losses...

12/28/2021

Is Bitcoin (BTV) Going To Hit $100k? Ambitious...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Bitcoin ($BTC) Breaches $50K For First Time Since September 7, Here’s Why $55K is not Far

  • Bitcoin and the wealthy | Financial Times

  • Whales Race To Move Millions Of XRP From Crypto Exchanges Following Increase In Global Outflow ⋆ TCNW

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,227.002.85%
  • ethereumEthereum(ETH)$2,036.363.04%
  • tetherTether(USDT)$1.00-0.07%
  • binancecoinBNB(BNB)$321.671.60%
  • usd-coinUSD Coin(USDC)$1.00-0.06%
  • rippleXRP(XRP)$0.4213691.85%
  • Binance USDBinance USD(BUSD)$1.000.11%
  • cardanoCardano(ADA)$0.543.40%
  • SolanaSolana(SOL)$52.364.47%
  • dogecoinDogecoin(DOGE)$0.0859730.69%
  • polkadotPolkadot(DOT)$10.111.20%
  • AvalancheAvalanche(AVAX)$31.405.85%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,229.002.78%
  • Lido Staked EtherLido Staked Ether(STETH)$1,988.953.22%
  • tronTRON(TRX)$0.0775924.33%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000121.97%
  • daiDai(DAI)$1.000.02%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.562.39%
  • CronosCronos(CRO)$0.1957833.97%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$5.032.72%
  • matic-networkPolygon(MATIC)$0.673.61%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.222.48%
  • FTX TokenFTX Token(FTT)$30.611.82%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$198.233.36%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.324.20%