# Support Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Support", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Bitcoin's Relative Strength Index (RSI) Approaches Its Strongest Overbought Level in Two Years! What Does This Mean? Here Are the Details

A significant technical shift has occurred for Bitcoin, with its Relative Strength Index (RSI) entering the 84-86 range, marking its most overbought condition since November 2024. This follows a sharp 12% price surge that broke Bitcoin out of its $62,000-$71,000 trading range, briefly pushing it near $80,000. The rapid upward move triggered substantial liquidations, wiping out over $3 billion in short positions within 24 hours, which in turn fueled further buying pressure. Analysts are now watching the $77,000 level as a crucial short-term support. Holding above this level is considered vital for sustaining the bullish momentum. However, the extreme RSI reading signals that while strong upward momentum persists, it coincides with an elevated risk of a potential price correction in the near term.

cryptonews.ruYesterday 06:26

Bitcoin's Relative Strength Index (RSI) Approaches Its Strongest Overbought Level in Two Years! What Does This Mean? Here Are the Details

cryptonews.ruYesterday 06:26

Analysts Predict Strong Bitcoin Rally, but Profit-Taking Risk Remains

Analysts forecast significant Bitcoin price growth but caution that profit-taking risks remain. Bitcoin surged to a multi-month high of $79,491 on August 21, with the rally driven by spot demand and short covering rather than new leverage, according to Bitfinex analysts. They noted that cash-based rallies tend to be more sustainable than those fueled by borrowed funds. The initial price jump on August 19, to $69,749, was triggered by a short squeeze that liquidated approximately $1.48 billion in positions, mostly shorts. This coincided with a $297.6 million inflow into US spot Bitcoin ETFs. Further gains were supported by macroeconomic factors, including a US Treasury announcement to double its long-term bond buyback program to at least $4 billion per operation, aiming to improve liquidity conditions which historically correlate with Bitcoin's price. A key technical level is the $68,000-$69,000 zone, representing the aggregate cost basis for buyers over the past five months. Trading above this level is crucial for maintaining their profitability and reducing sell pressure. Strong continued inflows into US spot Bitcoin ETFs, including a notable $606.29 million on August 20, are seen as vital for sustaining the rally's momentum. A return to a positive Coinbase Premium Index would confirm renewed US investor demand. However, risks persist. Analysts warn of a potential large wave of profit-taking if significant amounts of Bitcoin are moved to exchanges. Additionally, rising long-term bond yields and macroeconomic pressures, such as the US national debt surpassing $40 trillion, remain challenges that could test the rally's resilience more than any on-chain signal.

cryptonews.ru2 days ago 10:33

Analysts Predict Strong Bitcoin Rally, but Profit-Taking Risk Remains

cryptonews.ru2 days ago 10:33

Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K

Bitcoin surged above $77,000, marking its highest level since May and pushing Strategy's corporate treasury of 840,447 BTC back into profitability. The price move above Strategy's average cost basis of $75,385 has yielded an estimated $450 million year-to-date gain. Despite recent concerns after Strategy sold a small portion of its holdings for stock repurchases, analysts note the price recovery has alleviated fears about the company's investment strategy. On-chain data reveals a significant new support zone, with approximately 11% of Bitcoin's supply acquired between $58,000 and $67,000 over the past 11 weeks, creating a potential floor below current prices. The rally also saw BTC reclaim its 200-day moving average, a key technical milestone for ending the longer-term downtrend.

cointelegraph08/21 09:05

Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K

cointelegraph08/21 09:05

$70,000 and a Record Short Squeeze: The Start of a New Bitcoin Bull Cycle or a Bull Trap?

Bitcoin surged past $70,000 on August 20, marking a 9% gain in 24 hours. Analysts note this triggered a historic short squeeze, forcing bearish traders to cover positions. The breakout above the key $66,000 resistance level is seen by many, including Crypto Candy and Michaël van de Poppe, as a shift to a bullish market structure, with targets set at $70,700, $75,000, and $73,600, provided support holds above $65,000. Daan Crypto Trades highlights a bullish engulfing weekly candle, suggesting a potential major trend reversal if the week closes above the 200-day EMA and a key bull market support band. However, trader Roman urges caution, pointing to low trading volume and a potential bearish divergence on weekly charts, which could indicate a retest of recent lows before a sustained uptrend. An AI-driven historical analysis draws parallels to a similar short squeeze in summer 2021, warning that such sharp rallies after consolidation can be temporary, often followed by a retest of previous support levels rather than an immediate, sustained bull market. The overall sentiment is cautiously optimistic but acknowledges the possibility of further volatility.

cryptonews.ru08/20 08:06

$70,000 and a Record Short Squeeze: The Start of a New Bitcoin Bull Cycle or a Bull Trap?

cryptonews.ru08/20 08:06

Ali Martinez Waits for Cardano Level Indicating an Upward Reversal

Cryptocurrency Cardano (ADA) has triggered a new bullish signal after reaching the $0.17 downside target identified by analyst Ali Martínez. Martínez noted a buy signal from the daily TD Sequential indicator, which often appears after a prolonged decline and suggests selling pressure may be exhausting. With ADA hitting the $0.17 level, the analyst anticipates a potential short-term rebound towards $0.20, representing a roughly 15% gain from current levels. The $0.20 level is technically significant as a previous resistance zone and a key psychological barrier for bulls. A move above $0.18 would strengthen recovery chances, potentially opening the path toward $0.22. However, failure to hold the $0.17 support could invalidate the bullish outlook and lead to deeper price declines. At the time of reporting, ADA was trading at $0.17, up 2.2% over 24 hours but still down 1.5% on the weekly chart. It remains below its key 50-day and 200-day Simple Moving Averages, indicating the broader bearish trend persists. The 14-day Relative Strength Index (RSI) at 44.29 suggests neutral momentum, with selling pressure easing but no clear signal for a strong bullish reversal yet.

cryptonews.ru08/19 22:02

Ali Martinez Waits for Cardano Level Indicating an Upward Reversal

cryptonews.ru08/19 22:02

Bitcoin Funding Rates Hit Highest Level Since January 2026

Bitcoin funding rates have hit their highest level since January 20, 2025, reaching 0.0228 on August 14. These rates, periodic payments between traders to align perpetual contract prices with the spot price, have remained predominantly positive since late May 2026, indicating a market heavily skewed toward long positions. Concurrently, the 7-day simple moving average of Bitcoin's open interest has risen to a two-month high of $22.79 billion. Historical data suggests that such a combination of high funding rates and rising open interest has previously preceded price declines, as seen in early 2025 when BTC fell over 25%. Currently, analysts note BTC could rally toward $76,000 if it holds above $67,200. However, a break below the $62,300 support level might trigger a long squeeze and a correction down to $53,000.

cryptonews.ru08/18 22:33

Bitcoin Funding Rates Hit Highest Level Since January 2026

cryptonews.ru08/18 22:33

Famous CEO Makes Unexpected Statements: 'The Era of Easy Profits in Cryptocurrencies is Over' — He Published a Bitcoin Price Forecast

Following a period of heavy investment in 2020-2021, the cryptocurrency sector is reportedly seeing an accelerated shakeout of projects. Ryan Kirkly, CEO of Global Settlement Network (GSN), states that projects with high valuations but unsustainable revenue models are now leaving the market. Since early 2026, over 100 crypto and blockchain projects have ceased operations or gone bankrupt, a trend largely attributed to the earlier investment frenzy. While venture capital investment in Q1 2026 saw $4 billion across 355 deals, the total sum has halved from Q4 2025, primarily due to fewer mega-rounds. Kirkly believes the ongoing market cleansing will strengthen sectors like stablecoins, digital banking, institutional wallets, and payment infrastructure, while social tokens, memecoins, and some Web3 gaming startups may face greater pressure. He notes sustained corporate and government interest is shifting towards use cases like cost reduction, asset tokenization, and cross-border payments. Regarding Bitcoin, Kirkly describes the outlook as a "moderate bear market," identifying $61,200 as a critical support level. A break below this could trigger leveraged fund liquidations and potentially push prices toward $41,000.

cryptonews.ru08/18 21:26

Famous CEO Makes Unexpected Statements: 'The Era of Easy Profits in Cryptocurrencies is Over' — He Published a Bitcoin Price Forecast

cryptonews.ru08/18 21:26

Analytics Company That Predicted Bitcoin's Sharp Drop Warns: This Level Could Determine BTC's Fate!

Analytical firm 10x Research, which previously predicted Bitcoin's sharp decline, warns that the $63,000 level is now critical in determining BTC's fate. As Bitcoin consolidates between $60,000 and $65,000, founder Markus Thielen states that a monthly close above $63,000 could serve as a key technical signal, potentially resetting cycle indicators and marking an exit from the bear market. He emphasizes that $63,000 is a pivotal threshold due to six months of consolidation around $60,000 before the 2024 U.S. election and Bitcoin's 2021 peak near $64,000. Following the election, prices surged from $70,000 to $90,000 on low volume, leaving limited support below. Thielen recalls his earlier warning that a break below $93,000 could trigger a drop to $65,000, underscoring the $60,000-$65,000 zone's importance as a major trading range. However, risks remain if Bitcoin fails to hold above $63,000. Key factors include ETF inflows, institutional demand, U.S. bond yields, and miner selling pressure. Thielen concludes that, alongside maintaining the $63,000 level, positive developments in these risk areas are also necessary for a sustained recovery.

cryptonews.ru08/18 11:06

Analytics Company That Predicted Bitcoin's Sharp Drop Warns: This Level Could Determine BTC's Fate!

cryptonews.ru08/18 11:06

PI Price Forecast Remains Stable at $0.086 as Pi Network Reforms App Economy

PI price forecast remains stable around $0.086 as it continues to trade below a key descending trendline from April. The token has been consolidating in a narrow range between $0.078 and $0.086 throughout August, with major EMAs positioned above the price indicating bearish pressure. Key resistance levels are identified at the 20-day EMA ($0.08772) and the SuperTrend indicators around $0.09-$0.10. Support sits at the current price and the August range low of $0.070. Fundamentally, Pi Network announced a major change to its App Studio pricing model, set for August 24, 2026. The fixed, subsidized rate of 0.25 Pi for app creation/editing will shift to a usage-based model reflecting actual AI service costs. Subsidized rates will remain for apps demonstrating genuine user adoption. Separately, the mandatory node protocol upgrade has reached version 26.1, with only version 27.1 remaining to complete the sequence. On-chain activity shows increased transaction volume, including patterns of repeated 0.03 Pi transfers, potentially related to testing following the protocol upgrade. The bullish scenario targets a break above the $0.08772-$0.09000 resistance cluster, opening a path toward the 50-day EMA at $0.09560. The bearish risk is a breakdown below the consolidation range, potentially testing the $0.070 support level. The conclusion notes that while fundamental developments are progressing, the price chart remains technically constrained until it can decisively break above the persistent downtrend line and key moving averages.

cryptonews.ru08/18 09:59

PI Price Forecast Remains Stable at $0.086 as Pi Network Reforms App Economy

cryptonews.ru08/18 09:59

The Calm Before the Storm in the Bitcoin World: Two Analytics Firms Warn and Report on Critical Levels!

Two major crypto analysis firms have issued warnings about Bitcoin's current state, describing it as a period of calm before a potential storm. While Bitcoin has traded sideways between $60,000 and $65,000 for some time, both companies highlight critical price levels that could determine its next major move. Singapore-based QCP Capital notes that despite recent pressure, including geopolitical risks, high oil prices, and market uncertainty, BTC has held within its recent range, with $62,500-$63,000 forming a key lower boundary. The firm points out that Ethereum trading around $1,900 further signals low volatility and a lack of bullish sentiment. QCP states the market outlook lacks clear direction and is now focused on upcoming U.S. macroeconomic data, including the FOMC minutes, PCE inflation figures, the Jackson Hole symposium, and the next Fed meeting, which will be pivotal for BTC's breakout from this range. German analysis firm Makrovision Research observes that Bitcoin has been consolidating for weeks within a narrowing range, with resistance at $65,500 and support between $61,000-$62,000. They warn that as price compresses closer to these critical levels, a decisive breakout is imminent. A break above $65,500 could open a path toward $71,500, while a drop below $61,000 could trigger a test of new lows. The firm notes a significant drop in volatility, signaling that a sharp and significant price movement in either direction is approaching soon. *This is not investment advice.

cryptonews.ru08/17 16:06

The Calm Before the Storm in the Bitcoin World: Two Analytics Firms Warn and Report on Critical Levels!

cryptonews.ru08/17 16:06

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