• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Bitcoin remains under bearish pressure on Tuesday
Economy

Bitcoin remains under bearish pressure on Tuesday

by October 2, 2024
by October 2, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Bitcoin remains under bearish pressure on Tuesday

On Tuesday, the price of Bitcoin continued to fall, breaking through the $63,000 support level

Bitcoin chart analysis

On Tuesday, the price of Bitcoin continued to fall, breaking through the $63,000 support level. We created a new daily low at the $60164 level. The bearish momentum still looks very strong, which means further continuation to the bearish side. We are close to testing the $60,000 level before continuing further pullback. With today’s drop, we went below last week’s low, and we can say that Bitcoin is now on the bearish side.

The first support is at $59,000 as of September 18, and if it doesn’t hold, the next one is in the $57,500 zone. The September low is at the $52546 level. This morning’s bullish attempt to move above the EMA 200 and $64000 level was unsuccessful due to weak bullish momentum. That led to bearish consolidation and a drop in today’s low. Potential lower targets are the $59,000 and $58,000 levels.

 

The price is in a bearish consolidation below the $64,000 level for the second day in a row

For a bullish option, we need a positive consolidation and stabilization of Bitcoin price above the $62000 level. With that step, we would move away from the previous low. Then, we need to hold there before continuing to the bullish side. If we succeed in that, we can hope for a return above the daily open level. There we are very close to the EMA 50 and EMA 200 moving average.

A quick recovery could easily pull Bitcoin above these two moving averages and gain their support. Potential higher targets are $64500 and $65000 levels. Today’s price drop is 5.0%, while since the beginning of the week it is 8.28%.

 

The post Bitcoin remains under bearish pressure on Tuesday appeared first on FinanceBrokerage.

You Might Also Like
  • DOJ indicts Florida duo for threatening crisis pregnancy centers in wake of Dobbs decision overturning Roe
  • Iowa conservatives praise DeSantis ‘reboot’ amid campaign struggles
  • How Media Bias Caused the Moral Panic Surrounding Climate Change
  • Hamas and the Palestinian Authority have same endgame: ‘destroy’ Israel, expert says
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Ethereum under bearish pressure throughout the day
next post
PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

You may also like

‘Not fit to serve’: Speaker Johnson leads GOP demands for...

July 21, 2024

GOP House rebels who ousted McCarthy reveal stance on Emmer

October 25, 2023

Judge rules Georgia can resume ban on hormone replacement therapy...

September 6, 2023

EURUSD and GBPUSD: EURUSD is moving to a new weekly...

September 13, 2024

‘Bidenomics’: $42B internet investment favors wealthy left-wing regions, new report...

September 15, 2023

Biden admin allows immigrants to select gender identity other than...

April 2, 2023

Chris Christie ‘confident’ he will be on fourth GOP debate...

December 4, 2023

Cruz’s new book ‘Unwoke’ shows readers how to ‘defeat cultural...

November 6, 2023

Biden says Palestinians ‘deserve a state of their own’ in...

November 19, 2023

Black Republican calls out Biden’s ‘real record on race’ in...

June 27, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Canadian lawmakers laugh after Biden accidentally...

    March 25, 2023

    Nevada pardons board to consider posthumous...

    September 22, 2023

    We Don’t Need Regulation (or Statist...

    December 2, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here