{"id":2122,"date":"2024-09-11T18:01:58","date_gmt":"2024-09-11T18:01:58","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/11\/bitcoin-price-pulled-back-to-new-support-this-morning\/"},"modified":"2024-09-11T18:01:58","modified_gmt":"2024-09-11T18:01:58","slug":"bitcoin-price-pulled-back-to-new-support-this-morning","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/11\/bitcoin-price-pulled-back-to-new-support-this-morning\/","title":{"rendered":"Bitcoin price pulled back to new support this morning"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Bitcoin price pulled back to new support this morning<\/h1>\n<p><span>Yesterday\u2019s attempt by the price of Bitcoin to climb to a new weekly high was stopped at the $58050 level<\/span><\/p>\n<h2>Bitcoin chart analysis<\/h2>\n<p><span>Yesterday\u2019s attempt by the price of Bitcoin to climb to a new weekly high was stopped at the $58050 level. We just missed testing the previous high at $58070. After that, there was a decline in the bullish momentum, and the price initiated a pullback from that resistance zone. We had the first attempt to stop the fall last night at the $57500 level. New rising bearish price pressure is gaining this morning, and we have seen a strong <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-could-fall-to-a-new-weekly-low\/\">bearish<\/a> impulse below the support zone.<\/span><\/p>\n<p><span>Bitcoin continued to fall regardless of the EMA 200 moving average, which we had support on Monday and Tuesday. This caused the price to drop to a new daily low at the $56,000 level. For now, we have support at that level and are moving back above the EMA 200 moving average. The current price movement is sideways in the $56000-$56750 range.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Today\u2019s price pullback below the moving average has shaken the previous uptrend<\/h2>\n<p><span>If we don\u2019t see a jump above $57000 soon, the price will continue with the bearish scenario and break below today\u2019s low. This will form a new one and confirm the continuation of the bearish momentum. Bitcoin remains to look for new support and stop at a new low. Potential lower targets are $55500 and $55000 levels.<\/span><\/p>\n<p><span>If Bitcoin\u2019s price returns above $57000, supported by the EMA 200 moving average, it could remain bullish. After that, the price has an opportunity to continue to the daily open price and wipe out this morning\u2019s losses. With a return to the positive side, Bitcoin can test the weekly high and try to climb to a new one. Potential higher targets are the $58500 and $59000 levels.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-price-pulled-back-to-new-support-this-morning\/\">Bitcoin price pulled back to new support this morning<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price pulled back to new support this morning Yesterday\u2019s attempt by the price of Bitcoin to climb to a new weekly high was stopped at the $58050 level Bitcoin chart analysis Yesterday\u2019s attempt by the price of Bitcoin to climb to a new weekly high was stopped at the $58050 level. We just missed [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":2123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/2122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=2122"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/2122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/2123"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=2122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=2122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=2122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}