• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted

Bitcoin Could Retrace to $9,000 if it Breaks Below This One Key Level

Cole Petersen
by Cole Petersen
5 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin is now hovering within the mid-$11,000 region following the intense bout of selling pressure it witnessed yesterday
  • The decline beneath $11,200 was quickly absorbed by bulls, although BTC remains in a somewhat precarious position
  • One analyst is pointing to massive support just below where the crypto is currently trading as a bullish factor
  • That being said, other traders are cautioning that BTC is getting closer to a key level that could lead the crypto down to $9,000 if it is broken below

Bitcoin and the aggregated cryptocurrency market is now facing some turbulence as bulls and bears strive for control.

This caused BTC to plunge as low as $11,150 overnight in a sharp selloff that ultimately was followed by a strong rebound.

Although the benchmark digital asset is now consolidating within the mid-$11,000 region, it still appears to be at risk of seeing further downside.

One analyst is noting that a sustained decline could lead it as low as $9,000 in the near-term.

This possibility will only play out if bulls are unable to stop Bitcoin from breaking below $10,800.

Bitcoin Consolidates as Bulls Build Greater Support

At the time of writing, Bitcoin is trading up over 1% at its current price of $11,500.

Following the sharp selloff seen overnight, this is around where the cryptocurrency has been able to find some stability as its buyers attempt to push it back into the upper-$11,000 region.

It is important to note that this recent price action has done little to offer insight into the cryptocurrency’s macro trend, as it remains caught within a trading range between $11,200 and $12,000.

One analyst noted that the lower-$11,000 region had been laced with massive buying pressure in recent days.

“Bitcoin daily chart – There is plenty of support to test here mid range as the price trades at/above the middle BB. Let the bands catch up and then make another move,” he said.

Bitcoin

Image Courtesy of Big Cheds. Chart via TradingView.

Here’s the Crucial Support That Bulls Need to Defend 

Another analyst noted that $10,800 had become a major support level.

He also claims that the cryptocurrency’s reaction to this level in the near-term could have major implications for where it trends next.

A break below it could lead the cryptocurrency as low as $9,000.

“Bitcoin: Pink is HTF support. I’ll look for longs either on price getting back above black SR or at pink. Lose pink then we trade towards 9000.”

Image Courtesy of Tyler Durden. Chart via TradingView.

It appears that Bitcoin has now reached a pivotal point. Which direction it trends next could have major implications for its macro outlook.

Featured image from Unsplash.
Charts from TradingView.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Follow

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.

Full Profile

Related Posts

Bitcoin

Bitcoin At The Core Of Bhutan’s Tiny Yet Mighty Investment Plan

1 day ago
Bitcoin

From Tokyo With Bitcoin: Metaplanet Tops El Salvador In Crypto Holdings

2 days ago
McGregor

McGregor For President? With Bitcoin In His Corner, Anything’s Possible

3 days ago
Bitcoin

Bitcoin Returns To Consolidation Phase Ahead Of Projected Surge To $106K-$110K Range

3 days ago
Bitcoin

Crypto Analyst Predicts Bitcoin To Hit $200,000 At Cycle Top – Details

3 days ago
Bitcoin

Bitcoin Miners’ Selling Pressure Hits Lowest Level Since 2024 — What’s Happening?

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • meme coinok

    3 mémérme, amely berobbanhat 2025-ben – Az új PEPE...

    2 hours ago
  • Disruptive Passive Income: Cloud Mining Offers Investors Up...

    3 hours ago
  • Bull Run Crypto Telah Tiba- 3 Altcoin Teratas yang Layak Dibeli dan Disimpan

    Hamarosan jöhet a 150 000 dolláros Bitcoin

    3 hours ago
  • GateToken (GT) Burns 1,542,910.7518074 Tokens in Q1 2025...

    4 hours ago
  • Exclusive Early Access: First 100 Signups Today Earn...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Join Lightchain AI

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. 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.