NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Analyst: Despite Bitcoin’s Current Stability, a 30% Pullback Could be Imminent

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite facing some levels of volatility over the past week, Bitcoin has now been able to find some stability and is hovering right below the $8,000 level. It is important to note that BTC does face some levels of resistance in the lower-$8,000 region, as it has tried, and failed, on multiple occasions to climb above this region.

Although Bitcoin is clearly in the middle of an uptrend, it is important to note that there is a large chance that a drawback is imminent, and one analyst believes that there may be a 30%+ drop in the near future.

Bitcoin (BTC) Continues to Stabilize in Upper-$7,000 Region 

At the time of writing, Bitcoin is trading up 0.6% at its current price of $7,970, up slightly from 24-hour lows of roughly $7,800, which were set earlier this morning when the cryptocurrency incurred some increased selling pressure.

It now appears that Bitcoin has formed some levels of support around $7,800, as it has bounced around this price point on multiple occasions over the past several days.

While looking at BTC over a one-month period, it is clear that it is currently forming a consolidation pattern around its current price levels, which may or may not be proceeded by the formation of another upwards leg.

Importantly, analysts do believe that Bitcoin’s next stop may be at $10,000, assuming the cryptocurrency is able to further extend the upwards momentum that it has incurred over the past month.

Cred, a popular cryptocurrency trader on Twitter, discussed where BTC could possibly head next in a recent tweet, explaining that he is not currently bearish on the crypto, and believes that it could soon climb to roughly $10,000.

“$BTC I believe the 3D chart presents the clearest HTF view. Established a range between two levels. I have no reason to turn bearish yet – even if this range breaks down I’ll be a buyer at mid 6000s (where we last wicked). Breakout would take us to roughly $10,000,” he explained in a recent tweet.

$BTC

I believe the 3D chart presents the clearest HTF view.

Established a range between two levels.

I have no reason to turn bearish yet – even if this range breaks down I'll be a buyer at mid 6000s (where we last wicked).

Breakout would take us to roughly $10,000. pic.twitter.com/ZoYDYK4eBf

— Cred (@CryptoCred) May 21, 2019

Despite Its Upwards Momentum, BTC May Incur Several Large Pullbacks Before Going Parabolic

It is important to note that in the early stages of previous bull runs, Bitcoin has incurred multiple drawbacks that have pushed its price down over 30%. Because of this, there is a high likelihood that there will be multiple opportunities going forward for traders to accumulate more of the cryptocurrency.

Josh Rager, another popular crypto analyst on Twitter, pointed this out in a recent tweet, explaining that in the past bull run there were at least nine instances of BTC reeling down 30% or more, despite its firm upwards momentum.

“$BTC 30%+ pullback coming? Yes, eventually. If history repeats, there should be plenty of strong pullbacks on the way to next peak ATH. There were at least nine 30%+ pullbacks from last cycle accumulation & uptrend. Plenty of buying opportunities ahead, don’t let it shake you,” he noted.

https://twitter.com/josh_rager/status/1131039202286755845?s=21

As the week drags on and Bitcoin continues battling to breach into the $8,000 region, it will likely grow clearer as to whether or not a large pullback is imminent, or if a surge to $10,000 in the cards.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
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.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Crawls Up On Weak Supply: 30D Momentum Reveals It Lacks Real Demand

Bitcoin is once again gaining momentum, now trading above the $115,000 level after a modest surge yesterday. The move comes...

Sebastian Villafuerte 6 hours ago

Expert Crypto Trader Says Dogecoin Price Looks ‘Very Good’, Here’s Why

An expert crypto trader shares a strong view on Dogecoin and the broader market, saying conditions look very favorable right...

Sandra White 7 hours ago
эфириум

Ethereum на грани дефицита ликвидности: что это значит для инвесторов

Интерес институционалов к Эфириум заметно увеличился, и на фоне этого растет и внимание к инструментам, которые помогают участникам рынка получить...

daria 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Price Flashes ‘Rarest Signal’ Ever, Is A 100% Rally Possible?

Scott Matherson 22 minutes ago
Bitcoin

Mid-Sized Bitcoin Holders Break Records With 65K BTC Weekly Accumulation

Christian Encila 1 hour ago
Three Whales Buy $205M Ethereum From FalconX: Institutional Flows Accelerate

Three Whales Buy $205M Ethereum From FalconX: Institutional Flows Accelerate

Sebastian Villafuerte 3 hours ago

Premium Sponsors

Press Releases

  • トレーダー注目の新規コイン ― 仮想通貨1000倍リターンを狙える格安銘柄

    トレーダー注目の新規コイン ―...

    9 minutes ago
  • ミームコインが注目のプレセールで100万ドル突破 ― Mine-to-Earn型報酬が話題に

    ...

    26 minutes ago
  • Tyto 3 altcoiny explodují v aktuální sezóně – Bitcoin Hyper, Maxi Doge a Wepe SOL by mohly být dalšími generátory milionářů

    Maxi Doge ($MAXI): Investičná príležitosť medzi meme...

    6 hours ago
  • Maxi Doge ($MAXI): Investiční příležitost mezi meme...

    6 hours ago
  • イーサリアム...

    7 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. 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.