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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

A Huge Bitcoin Price Correction is Still a Couple of Months Away: Analyst

Davit Babayan
Davit Babayan
1 year ago
2 mins read

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.

The bitcoin price has dropped by up to 5.80 percent from its recent peak of $8,947. But the cryptocurrency’s least-awaited downtrend has still not begun, according to Josh Rager.

The prominent cryptocurrency analyst said on Tuesday that bitcoin’s next downside correction is still a couple of months away owing to its past behaviors. Rager noted that bitcoin takes an average of 98 days to initiate big pullbacks in an uptrend. The cryptocurrency’s last significant price correction took place on May 17, which means it has at least three months to continue its bullish action.

“While we can’t base everything on one historical uptrend, we do know that pullbacks will come. But, with institutions in the market now & battling for position, we may not see a major pullback (30%) for a while (July or August),” said Rager.

https://twitter.com/Josh_Rager/status/1133371092175863808

Mid-$9,000 for Next Bitcoin Pullback

The open-ended bitcoin price boom took encouragements from a chain of recent headlines showing greater interest in the cryptocurrency industry. At first, Fidelity Investments and TD Ameritrade in April expressed their plans to offer bitcoin trading services to their clients in separate announcements. Later, AT&T, a US-based telecommunication firm, stated that it would permit customers to pay their phone bills in bitcoin.

Peter Brandt, a well-recognized trader, said investors are purchasing bitcoin out of FOMO, a backronym for fear-of-missing-out. The analyst believed the cryptocurrency would extend its price rally before “the majority of sold-out crypto bulls capitulate.”

Rager developed the theory into a level that could attract maximum capitulation in the near-term. He referred to a so-called “meme triangle” pattern — symmetrical triangle — which earlier hosted bitcoin’s previous breakout action. The height of the triangle was just shy of $1,5o0 which, according to textbook descriptions, settled bitcoin’s upside target $1,500 higher from the point of breakout ($8,150 on Coinbase exchange).

https://twitter.com/Josh_Rager/status/1132741397495328769

“I’ll continue to be bullish on BTC until we hit between the $9400 to $9700 area (even if BTC retraces to $8400),” said Rager.

Alex Krüger, a global market analyst, also noted that bitcoin has little resistance over $8,500, which could make its course towards the price target of $9,000-price target — or even $10,000 — much easier.

$BTC levels

Support: 7600, 7200, 6800, 6400, 6200, 6000, 5750-5500, 5000.

Resistance: 8400-8500, 10000, 11500-11750, 13000, 15000, 17400, 20000, moon.

— Alex Krüger (@krugermacro) May 21, 2019

Bearish Outlook

Rager admitted the possibility of a bitcoin pullback ahead of testing $9,400, citing the area below is “the most expected place” for an interim capitulation.

“One could also suspect a BTC pullback [before] the $9400 to $9700 level because this is the most expected place. Being that level is so obvious, it wouldn’t be the crypto market without a few surprises as price action rarely goes as expected,” he said.

Willy Woo, another famous cryptocurrency analyst, said the divergence between the bitcoin price and bitcoin’ network value-to-transaction ratio was growing higher, which typically means that dump is overdue.

If you want to see just how high the price exceeded what's normal for on chain capital flows, NVT Caps paints a very clear picture. The short squeeze pushed price mismatch to late bull market "mania" levels before the blow off today, we are still well above organic levels. pic.twitter.com/U4PeA2zCTH

— Willy Woo (@woonomic) May 17, 2019

“If you want to see just how high the price exceeded what’s normal for on-chain capital flows, NVT Caps paints [an obvious] picture, Woo said. “The short squeeze pushed price mismatch to late bull market “mania” levels before the blowoff today, we are still well above organic levels.”

Tweet123Share253ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

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

Trump

WLFI Slides 15% After Launch As Trump Token Team Eyes Burn Strategy

World Liberty Financial’s Trump-linked WLFI token plunged in price after a high-profile debut, prompting its backers to propose an aggressive...

Christian Encila 4 hours ago
Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

The decentralized exchange (DEX) market has just reached a historic milestone, with over $1.15 trillion in volume processed during August....

Aaron Walker 4 hours ago

Top 3 kryptomeny na investovanie v septembri 2025

Začiatok jesene prináša na kryptomenový trh novú dynamiku. Kým Bitcoin sa obchoduje okolo hranice 110 000 dolárov a Ethereum atakuje...

Nina Šefčíková 5 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

Metaplanet Becomes A Global Bitcoin Powerhouse with 20,000 BTC Hoard, More Buys Ahead?

Godspower Owie 59 minutes ago
dogecoin_doge_dogeusd_5_optimized

Dogecoin Price Set For Explosive Rally If This Structure Holds

Sandra White 1 hour ago
Ethereum

Ethereum Price Stuck In ‘Loading Phase’, What This Means For The Campaign For $5,000

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • 12億ドルの売り越し、市場は調整局面に突入か?

    イーサリアム...

    38 minutes ago
  • ビットコイン...

    51 minutes ago
  • シバコイン 今後の行方

    シバコイン...

    1 hour ago
  • パイネットワーク...

    1 hour ago
  • 1 najbolja kriptovaluta za kupiti prije nego što poraste za 3.536%, prema Cathie Wood (ARK Invest)

    1 najbolja kriptovaluta za kupiti prije nego što poraste...

    2 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.