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: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
  • 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: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Despite Recent Turbulence, Bitcoin Has Yet to Break Its Upwards Parabola

Cole Petersen
Cole Petersen
11 months 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 (BTC) and the aggregated crypto markets are currently experiencing a bout of major volatility that appears to have put the upwards momentum that they have incurred over the past several weeks in grave danger.

Despite this, one analyst is quick to note that Bitcoin is still holding above the upwards parabola that it has been forming throughout the course of its recent uptrend, which – in combination with several other bullish factors – may signal that further gains are imminent.

Bitcoin Struggles to Hold Above $8,000 as Selling Pressure Ramps Up

At the time of writing, Bitcoin is trading down nearly 6% at its current price of just over $8,000, which appears to be a relatively weak level of support.

After BTC first incurred a large amount of selling pressure late yesterday, it tumbled from highs of nearly $8,600 to lows of $7,900, where it found some levels of buying pressure that allowed it to climb to its current price levels.

It is important to note that this downwards pressure first began after Bitcoin quickly surged to highs of $9,000 late last week, at which point it faced an insurmountable level of selling pressure that put its upwards momentum in jeopardy.

As for where this current bearishness may send Bitcoin next, UB, a popular cryptocurrency analyst on Twitter, explained that he believes BTC may visit the lower $7,000 region in the near future.

“$BTC – Typically when Bitcoin breaks a Series of Higher Lows it retests the Origin of the HL. The Origin of the HL is confluent with Daily Support between $7.2k – $6,975. Looking to short the next bounce and ride it down to Daily Support,” he explained.

$BTC – Typically when Bitcoin breaks a Series of Higher Lows it retests the Origin of the HL.

The Origin of the HL is confluent with Daily Support between $7.2k – $6,975.

Looking to short the next bounce and ride it down to Daily Support.
#Bitcoin pic.twitter.com/zr3noOJvOs

— UB (@CryptoUB) June 4, 2019

Analyst: BTC’s Upwards Parabola Still Intact

Although there is a strong possibility that further losses are imminent, other analysts are currently noting that the combination of Bitcoin’s upwards parabolic formation – which appears to still be intact despite the recent drop – and other bullish factors may lead BTC to surge higher.

Rhythm Trader, another popular analyst on Twitter, shared a somewhat bullish sentiment regarding BTC that is quite rare at the moment, noting that he believes its parabola and bullish fundamentals will help lead it higher.

“This $BTC parabolic rise is still on-going and has yet to break. – Less than a year to the halvening – Volume all-time highs – Hash rate at all-time highs. Bitcoin rose from 5,000 to $20,000 in only two months last parabolic move,” Rhythm said.

https://twitter.com/Rhythmtrader/status/1135932868671283200

Although only time will tell as to whether or not the market’s will be able to extend their upwards momentum further, Bitcoin is still in a firm uptrend and has significant room to fall before it once again nears bear market territory.

Featured image from Shutterstock.
Tweet123Share256ShareSend
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’s SOPR Nears Critical Level—Is a Deeper Correction Ahead?

Bitcoin’s SOPR Nears Critical Level—Is a Deeper Correction Ahead?

Bitcoin’s price has continued its gradual decline, now trading just above $81,000, marking a significant drop from its all-time high...

Samuel Edyme 1 week ago
bitcoin

Bitcoin To Bottom Around $70,000? Arthur Hayes Says Correction ‘Very Normal’ In A Bull Market

According to crypto entrepreneur Arthur Hayes, Bitcoin (BTC) is likely to bottom around $70,000, marking a 36% correction from its...

Ash Tiwari 6 days ago
Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Bitcoin continues to face challenges in regaining upward momentum, with the cryptocurrency still trading below $82,000 as of today. The...

Samuel Edyme 5 days 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

Cardano: Neues Allzeithoch im März?

wernerwassicek 1 week ago
Ethereum, ETH, Crypto

Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH?

Rubmar Garcia 4 days ago
Bitcoin

Bitcoin Bear Market Is Below This Level, Analyst Reveals

Keshav Verma 3 days ago

Premium Partners

Top Brands

Press Releases

  • LimeChain

    LimeChain – Builders of Web3 Step into the FIA...

    2 months ago
  • Ripple XRP Investors Making $13,000 Per Day with This Cloud...

    2 months ago
  • How To Make $99k Daily Despite Crypto Market Fluctuations...

    2 months ago
  • EstateX Sells Out the First Tokenized Property in Under...

    2 months ago
  • BlackFort Exchange Network (BXN) Joins Biconomy.com...

    2 months 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.