• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee

Bitcoin Remains Stuck Below Key Technical Level as Bulls Try to Take Control

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
0
  • Bitcoin’s price has been stagnant throughout the past several weeks and months, with buyers and sellers being unable to gain firm control of its near-term outlook
  • The crypto is now pushing up towards $10,800, which has proven to be a heavy resistance level throughout the past several days and weeks
  • If this level continues holding strong as resistance, whether or not it is broken above should offer profound insights into BTC’s near-term outlook
  • A firm break above this level could open the gates for the cryptocurrency to see a move up towards $11,000
  • Ultimately, how the benchmark crypto reacts to the selling pressure here will determine its mid-term trend

Bitcoin and the entire cryptocurrency market have been struggling to gain any sustainable momentum in either direction throughout the past several weeks and months.

Analysts are now noting that where the market trends next will likely depend largely on how the crypto reacts to a few key levels.

$10,800 is the first resistance level that must be broken above, with the region between $11,000 and $11,200 being the next zone that buyers must surmount.

One trader also noted that Bitcoin is still stuck beneath its 200-day EMA, which is a trend-defining level that must be recaptured in the near-term.

Bitcoin’s Momentum Stalls as Buyers Struggle to Break $10,800

At the time of writing, Bitcoin is trading up marginally at its current price of $10,730. This is around there it has been trading at throughout the past day.

Whether or not bulls or bears are able to step up and take control of its near-term outlook should depend largely on how it responds to a test of this level.

If surmounted, the next key price region to closely watch sits between $11,000 and $11,200.

Analyst: BTC Remains Stuck Below Its Key 200-day Moving Average

One level that has consistently, throughout history, proven to be trend-defining is the 200-day moving average.

Sustained bouts of trading above, or below, this level has contributed to assets like Bitcoin seeing multi-year trends.

At the present moment, Bitcoin is trading below this level, leading one analyst to note that a break above it is imperative for the crypto’s near-term outlook.

“Bitcoin’s only enemy is the 200ema – resistance of cloud. Let’s break above please, I miss the smell of financial freedom,” he said in jest while pointing to the below chart.

Bitcoin

Image Courtesy of Teddy. Chart via TradingView.

Where the entire market trends in the coming few days and weeks may hinge solely on Bitcoin’s reaction to this crucial technical level.

Featured image from Unsplash.
Charts from TradingView.
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

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.

Related Posts

Bitcoin

Bitcoin Miners On The Defensive: Market Uncertainty Spurs Revenue Diversification – Analyst

2 hours ago
Bitcoin

Bitcoin Roadblock Unveiled: Analyst Identifies Barrier Faced By The Top Crypto

15 hours ago
Bitcoin ESG

Bitcoin Is The Ultimate ESG Asset, Expert Validates

21 hours ago
Bitcoin

Six And Counting: The Global Bitcoin Billionaire Phenomenon Unveiled

3 days ago
Bitcoin price Fed

How Has The Fed’s Decision Impacted The Bitcoin Price? Crypto CEO Weighs In

3 days ago
Bitcoin

Bitcoin Next Moonshot? Santiment’s Intriguing Insights For Crypto Enthusiasts

4 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Pepe Coin Price Continues To Decline, Kangamoon and Shiba...

    16 mins ago
  • Polygon (MATIC) and Ripple (XRP) are in the Recovery Mode...

    25 mins ago
  • Imagine Buying Bitcoin at 20 cents! Gold Coin on the rise

    1 hour ago
  • The Growing Traffic to the Scorpion Casino Presale Hints at...

    4 hours ago
  • VeChain (VET) and Avalanche (AVAX) Market Dilemmas: New...

    10 hours ago

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

Bitcoin

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

Altcoins

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

Categories

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

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 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.