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, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • 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, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Analysts Rule Out Bitcoin Drop to $4,000 Despite Bearish Signs; Here’s Why

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.

Bitcoin’s price action has proven to be quite bearish as of late after it failed to hold above its key support level around $10,000. The drop below this level has led BTC to a key support level in the $9,000 region, and a failure to hold above this support level could lead to a massive movement lower.

Analysts are ruling out a full retrace down to $4,000, however, and are noting that there could be a near-term bullish scenario if BTC is able to hold above $9,400.

Bitcoin Plummets Below $10,000 as Sellers Flex Their Strength 

At the time of writing, Bitcoin is trading down over 3% at its current price of $9,600, which marks a notable retrace from its daily highs of just under $10,000.

Because Bitcoin has been unable to find any sustainable upwards momentum within the five figure price region, bears have been able to gain the upper hand over the cryptocurrency’s bulls, which appear to have lost much of their strength as BTC once again revisits its historical support region in the lower-$9,000 region.

A failure to hold strong above this support level will likely lead to a bout of capitulation that sends the crypto reeling significantly lower, but analysts are noting that there is a bullish near-term scenario that could bolster BTC’s bulls.

The Cryptomist, a popular crypto analyst on Twitter, spoke about this possibility in a recent tweet, explaining that a strong bounce from $9,400 could spark some bullish momentum.

“$Btc Hmm looking again there may be a bullish scenario? Long bottom wick too 9.4k region, with candle close on support of falling wedge RSI. Then breakout to cover 11.8k gap? Will know between this & last post, which is valid, from btc next move,” he explained in a recent tweet.

$Btc

Hmm looking again there may be a bullish scenario?

Long bottom wick too 9.4k region, with candle close on support of falling wedge RSI

Then breakout to cover 11.8k gap?

Will know between this & last post, which is valid, from btc next move pic.twitter.com/hRsmxV6FBO

— The Cryptomist (@Thecryptomist) September 24, 2019

BTC Unlikely to Face Deep Retrace to $4,000

Assuming that $9,400 does not hold as a strong level of support and that Bitcoin faces a significant influx of selling pressure, some analysts have noted that BTC could erase a significant amount of the gains it incurred throughout the first half of 2019.

Despite this, Mayne, another popular crypto analyst on Twitter, spoke about this possibility in a recent tweet, explaining that he believes it is highly unlikely.

“$BTC Seeing a lot of $4k charts today. I don’t like to speak in absolutes but I don’t see us dropping that low. We’re in an uptrend and have been consolidating for 90 days. Just because it’s a descending triangle doesn’t mean we fully retrace the move, market conditions matter,” he noted.

$BTC

Seeing a lot of $4k charts today.

I don’t like to speak in absolutes but I don’t see us dropping that low. We’re in an uptrend and have been consolidating for 90 days. Just because it’s a descending triangle doesn’t mean we fully retrace the move, market conditions matter.

— Mayne (@Tradermayne) September 24, 2019

How Bitcoin reacts to its key near-term support levels in the coming hours and days will prove to be critical for determining its near-term trend.

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

Prezzo Ethereum: ETH scende del 6,1%: test dei 4.000 $ in vista

Nelle ultime 24 ore, Ethereum (ETH) ha perso il 6,1%, scendendo sotto i 4.300 $, dopo che i rialzisti non...

clararosati 1 hour ago
ethereum eth ethusd

Ethereum Slides 6% as Bulls Lose Grip on $4,500 Resistance; $4,000 Incoming?

Ethereum (ETH) has slipped 6.1% in the past 24 hours, falling below $4,300 after bulls failed to defend the crucial...

James Halver 2 hours ago
Solana

Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase – Here’s The Value

Solana (SOL) investors are witnessing rising volatility as a surge in whale activity signals deadly selling pressure in the market....

Scott Matherson 4 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

XRP

Analyst Predicts XRP Price Will Definitely Reach $10,000, Gives Reasons Why

Scott Matherson 16 minutes ago
Bitcoin

Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Ronaldo Marquez 58 minutes ago
crypto

More Than 6 In 10 Use Crypto For Passive Income, 46% To Beat Inflation – Study

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    1 hour ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    2 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    2 hours ago
  • 5 монети, които биха могли да...

    3 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    4 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.