• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • 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: Binance Founder CZ Receives Presidential Pardon From Donald Trump
  • 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: Binance Founder CZ Receives Presidential Pardon From Donald Trump
Bitcoin

Bitcoin’s Outlook is Bright as It Trades Above Key Cloud Formation

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 appears to have entered a firm consolidation phase within the mid-$9,000 region following the latest rejection at $10,000
  • In spite of the signs of weakness that BTC has flashed throughout the past several days, it is important to keep in mind that it has sustained above multiple key technical levels
  • It now appears that the cryptocurrency could be well positioned to see further upside, but there is one key resistance level that must be firmly surmounted

Bitcoin has entered yet another bout of sideways trading as it struggles to garner any decisive momentum in either direction.

In order for the crypto’s mid-term uptrend to be sustained in the days and weeks ahead, it is imperative that it firmly surmounts the heavy resistance that is faces within the lower-$10,000 region.

Another swift rejection here could be enough to send the crypto spiraling lower, potentially erasing a good portion of its recent gains.

Bitcoin Remains Above Key Technical Formation as it Enters a Consolidation Phase

At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,440.

This marks a notable decline from recent highs of $9,900 that were set roughly two days ago.

In the time following this rejection, BTC’s buyers and sellers have reached an impasse as they both struggle to tip the scales into their favor.

In the near-term, bulls may have an edge over bears due to their ability to absorb enough of the selling pressure to support BTC above $9,000.

One analyst is also noting that Bitcoin’s market structure remains firmly bullish as it remains above a key cloud formation.

“A wise old man once told me that above the cloud, bulls are in control – I tend to believe old wise men,” he noted while pointing to the chart seen below.

Image Courtesy of Teddy

BTC Still Faces Heavy Multi-Month Resistance

Although its market structure may favor buyers, it is important to keep in mind that Bitcoin is fast approaching what one analyst is describing as a “monster resistance” level.

This level exists between roughly $9,900 and $10,500 and has been the impetus of multiple major rejections that the cryptocurrency has seen dating all the way back to September of 2019.

“Our major resistance held up once more and sent us down to 8100 so far, following the red path. That being said I’m flat atm and not sure if that was all for the correction or if we get one more leg down,” he said while pointing to the level marked on the below chart.

Bitcoin
Image Courtesy of Credible Crypto

It is important to note that the same analyst further went on to add that he believes “dips are still for buying” due to its growing technical strength.

Featured image from Unplash.
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

live-news-bnb-robinhood-listing-october-24-2025-tw

BNB即時新聞:Robinhood 上架動態更新(10月24日)

7 hours ago
Bitcoin ziņas šodien: BTC cīnās, lai noturētu 108 000 dolāru līmeni, neskatoties uz lejupslīdošo spiedienu

Bitcoin ziņas šodien: BTC cīnās, lai noturētu 108 000 dolāru līmeni, neskatoties uz lejupslīdošo spiedienu

18 hours ago
ผู้บริหารฟินเทคเยอรมนีจับมือดีลใหญ่ซื้อ Bitcoin

เยอรมนีเอาจริง! บริษัทฟินเทคทุ่มซื้อ Bitcoin 10,000 BTC

1 day ago
Bitcoin

Forget Bitcoin’s Halving — The ‘Business Cycle’ Is The Real Market Killer: Analyst

2 days ago
Bitcoin Hyper

มาแรงสวนตลาด! Bitcoin Hyper ระดมทุนทะลุ 24 ล้านดอลลาร์

2 days ago
แม่เหล็กดึงดูดเหรียญ Bitcoin เปล่งพลังงานสีน้ำเงิน

ถึงเวลาช้อน? สถาบันกว้านซื้อ Bitcoin มากกว่าที่ขุดได้ 6 เท่า

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Snorter Bot...

    3 hours ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    2 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    2 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    2 days ago
  • 挖 1 枚比特幣耗電可供 61...

    2 days 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

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.