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 Price Breaks Below $8,000, Is $7,000 or $9,000 Next?

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
bitcoin bulls crypto analyst

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.

This morning, Bitcoin price briefly broke back below $8,000 and is currently teetering on the support line – which could possibly be the last stand for bulls in this range before new lows are reached.

But all is not lost for bulls, and if Bitcoin buyers can push the price of the leading crypto asset up past a key resistance level, the bull market could be back on. If not, falling even deeper to find new support will be the end result.

Bitcoin Price: Bear Flag Could Bring Crypto Asset to $7,000 Unless Bulls Reclaim $9,000

Following Bitcoin’s bear market bottom, FOMO helped carry the price of Bitcoin to $14,000 bringing investors at the high an up to 350% gain. But once the leading crypto by market cap got there and couldn’t push through to a new all-time high, the buying momentum fizzled out, and interest has all but faded from the crypto market.

Related Reading | Bitcoin Bear Flag Could Cause Crypto Asset To Retest February 2018 Lows 

This can be seen by significant declines in trading volume, and through falling asset prices. After making a rally towards $9,000, Bitcoin price was stopped short and rejected hard at roughly $8,800, which sent the price of the first-ever cryptocurrency plummeting back down toward $8,000.

This morning, Bitcoin momentarily broke below $8,000 and is now trading at the critical support level. If breached, bears could push the price of Bitcoin down to support levels below.

Bitcoin appears to be consolidating within a bear flag on its daily price charts, and if confirmed, could spell disaster for bullish crypto investors. Downside targets below current prices range from $6,800 to $7,400 as the next zone where a bounce most likely could occur and a new trading range be established. If not, the February 2018 low of $5,800 could be tested.

In the chart below, the bearish scenario shows Bitcoin falling from the bear flag formation to the aforementioned support levels.

Also depicted, is a bullish scenario, where if bulls can reclaim the powerful support turned resistance level between $9,000 and $9,600, a return to the bull run before the end of the year is possible. Any upward movement would be the result of one of two remaining diagonal trendlines drawn from Bitcoin’s bear market bottom holding as support.

Related Reading | More Whales Are Hoarding Bitcoin After Accumulating During Bear Market 

The bearish scenario has Bitcoin breaking below the higher of the two trendlines, and if that occurs, bulls will need to hope that the final diagonal support remains unbroken or the crypto asset could return to its bear market bottom, or potentially even set a new, lower low.

For now, Bitcoin price continues to trade at roughly $8,000, and how it reacts to either $7,000 below or $9,000 above will hold the key to the future of the cryptocurrency.

Tweet123Share196ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Close

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

XLM

XLM Traders, Beware! Stellar’s Funding Rate Is Plummeting

Stellar Lumens hit a critical support level this week at $0.20, putting the token in a precarious spot. At that...

Christian Encila 3 hours ago

Анализ ликвидности BTC: $107 000 и $110 500 станут целями

Цены на Bitcoin (BTC) продолжают колебаться около $108 000 после незначительного прироста в 0,33% за последние 24 часа. Флагманская криптовалюта...

lisachaikina 5 hours ago
defi

DeFi coin rankings schudden op – Hyperliquid, Sui en Avalanche breken door naar top 10 lijst

rliquid, Sui en Avalanche zetten een enorme opmars in naar de top van de DeFi crypto markt. Sinds deze week...

Lars Diederiksen 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

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

Aaron Walker 59 minutes ago
비트코인, 도지코인 및 밈코인 일제히 상승세... 토큰6900도 따를까?

비트코인, 도지코인 및 밈코인 일제히 상승세… 토큰6900도 따를까?

Soyeon Lee 1 hour ago
elon musk DOGE

Elon Musk plant onthulling ‘America Party’ – significante invloed op crypto markt verwacht

Lars Diederiksen 1 hour ago

Premium Sponsors

Press Releases

  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    1 minute ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    14 minutes ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    1 hour ago
  • アルトコイン注目銘柄:2025年7月第1週にチェックすべき4銘柄

    ...

    1 hour ago
  • 仮想通貨おすすめ|億万長者を生む可能性が高いのはどちらか?XRP対シバイヌ比較

    ...

    2 hours 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.