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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Breaks Below $8,000 and Nears Range Lows as Analysts Eye Further Losses

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.

After experiencing a long period of sideways trading within the lower-$8,000 region, Bitcoin (BTC) has once again extended its downwards momentum and has begun moving lower today as it has broken below $8,000 on most major exchanges.

This extension of its downwards momentum has led most analysts to target lower-lows in the near-term, but BTC does still have one last level of near-term support before it posts a decisive break below the recently established trading range that it has been caught within for the past several days and weeks.

Bitcoin Breaks Below $8,000 on Most Major Exchanges as Bulls Falter 

At the time of writing, Bitcoin is trading down roughly 1% at its aggregated price of $8,010 across all exchanges, although it is important to note that its price is already trading below $8,000 on many individual exchanges.

Bitcoin’s bearish price action in recent times marks an extension of the bearishness that it incurred when it broke below $10,000 late last month, and BTC has failed to post any noteworthy upwards momentum in the time since this massive drop occurred.

In the near-term, it is highly likely that BTC continues to see insurmountable selling pressure, as the crypto’s inability to garner any sustainable upwards momentum points to an underlying bearishness for the cryptocurrency.

The Cryptomist, a popular crypto analyst on Twitter, told her over 40k followers that she expects the crypto to incur notable volatility in the week ahead, which could potentially lead to a leg up before it plummets to fresh multi-month lows.

“$BTC: Been ranging this week but expecting action this upcoming week. I still think there is new lows coming but perhaps leg up first. Potential falling wedge here present on the 4hr. If valid we could see break sooner than later,” she explained.

https://twitter.com/thecryptomist/status/1180820980362559488

Analyst: BTC Nears Range Lows as Sellers Build Strength 

Mitoshi Kaku, another popular crypto analyst on Twitter, explained in a recent tweet that BTC has been caught within a trading range between $7,900 and $8,250, with a break below its range-low support potentially leading to a period of capitulation.

“Early in the week when I opened the doors of the W&P Group, the system signaled a range for $BTC, that gave us the opportunity for a few nice scalps! It was a long wait since 9/21, but as I always say: It is time to pay attention,” he explained in a recent tweet.

Early in the week when I opened the doors of the W&P Group, the system signaled a range for $BTC, that gave us the opportunity for a few nice scalps! 🙌 It was a long wait since 9/21, but as I always say: It is time to pay attention". #CryptoIkagi – https://t.co/vIq6PMYg2A pic.twitter.com/Jet1XpgUGp

— Joe Mitoshi 🧑‍🚀 (@CryptoSays) October 6, 2019

The coming days and weeks will likely prove to illuminate how Bitcoin will trend throughout the rest of 2019, as an inability to post any strong bounce in the near-term could spell trouble for the crypto’s mid-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

Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July....

Scott Matherson 11 hours ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Bitcoin’s climb past $110,000 this week has reignited a fresh round of bullish calls. Prices hit $110,150 on July 3...

Christian Encila 13 hours ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Bitcoin (BTC) prices showed a sideways movement in the past day producing no significant changes. Following the recent rejection at...

Semilore Faleti 14 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 Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

Opeyemi Sule 7 hours ago
Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Christian Encila 8 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Opeyemi Sule 10 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    7 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    8 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    23 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.