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?

Analyst: Bitcoin Could Dump to $6,500 to Maintain Price Parabola

Martin Young
Martin Young
6 years ago
2 mins read
bitcoin bear

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.

As the Bitcoin consolidation continues, traders and analysts are scouring the charts again looking for the next direction. In the short term most are of mixed opinion but one analyst has predicted a big fall before any upward price momentum is resumed.

Bitcoin Biding Its Time

For more than two months now BTC has been range bound between mid-$9,000s and low $12,000s. The channel appears to be tightening with very little movement over the past week, but this has happened before. Price action is not linear and the asset is still highly volatile which means a larger swing could occur before any confirmed trend direction takes place.

Trader and analyst ‘dave the wave’ has maintained that in order to stick to its growth curve, Bitcoin will need to fall back first.

“Some are wondering why BTC can’t do sideways for a significant period of time [across to the growth curve at this level]. Problem is BTC is volatile and doesn’t do sideways for long. This parabola and correction has always been about chewing up time for it to meet the curve imo”

Some are wondering why BTC can't do sideways for a significant period of time [across to the growth curve at this level]. Problem is BTC is volatile and doesn't do sideways for long. This parabola and correction has always been about chewing up time for it to meet the curve imo pic.twitter.com/c3qBiu853F

— dave the wave🌊🌓 (@davthewave) September 9, 2019

A move back to that curve would send prices back to the mid-$6,000 price range. Coincidentally this was the most traded price for BTC during 2018. A move of this magnitude would mark a correction of over 50% and put Bitcoin back into bear market territory.

The time frame also lines up with the halving event in May 2020 which is likely to be bullish. What does appear evident from the chart is a fractal pattern of a descending triangle which, as we so painfully saw last year, dumped massively upon conclusion.

Descending Triangle

As legendary investor, Peter Brandt, pointed out though, the chart pattern is not complete until it has fully played out.

“In full disclosure, I must inform you that I am long BTC as a position trader. Yet, as a swing trader I must respect classical charting principles. This descending triangle is NOT a descending triangle until it is completed.”

At the time of writing the consolidation is continuing with BTC falling back over the past few hours to around $10,300 during the morning’s Asian trading session. The weekend high of $10,600 could not be held as the trading range tightened. A fall back below five figures is looking imminent again but the overall pattern on longer time frames is still sideways until a major breakout occurs.

The conclusion of the descending triangle this week could provide that momentum.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

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

Deutsche Bank: Bitcoin volgt goud traject - wat betekent dit voor de BTC koers?

Deutsche Bank: Bitcoin volgt goud traject – wat betekent dit voor de BTC koers?

De Deutsche Bank heeft onlangs een opmerkelijke uitspraak gedaan over de toekomst van Bitcoin. Volgens de Deutsche Bank kan Bitcoin...

Lars Diederiksen 1 hour ago
snorter bot token

Μόλις 27 ημέρες απομένουν πριν κλείσει η προπώληση του Snorter Bot Token – Η πρώιμη πρόσβαση δεν θα διαρκέσει πολύ

Snorter Bot Token (SNORT): Η προπώληση που μπορεί να γίνει το επόμενο κορυφαίο Telegram trading bot, εισέρχεται τώρα στις τελευταίες 27...

Ιωάννης Ριζόπουλος 1 hour ago
ethereum-stablecoins-pepenode-maxidoge

Ethereum chute, mais la market cap des stablecoins explose : vers un redéploiement de capital ?

Septembre 2025. Ethereum recule violemment, presque 9 % envolés en quelques séances. Les liquidations à effet de levier ont nettoyé...

guillaumev 1 hour 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 price news

Bitcoin Price Could Still Crash To $99,000 If This Happens, Warns Ostium Labs

Jake Simmons 12 minutes ago

Snorter Bot Token สวนทางตลาด! ICO พุ่งทะลุ $4 ล้านในพริบตา

Narongdet Chaiwit 19 minutes ago
Bitcoin

Central Banks May Stockpile Bitcoin In 5 Years, Deutsche Bank Predicts

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • memecoins at discount

    Những Meme Coin Tiềm Năng Đang Giảm Giá – Liệu...

    8 minutes ago
  • パイネットワーク...

    12 minutes ago
  • ripple

    Ripple: Liệu Có Tăng Giá Vào Tháng 10? Đồng...

    16 minutes ago
  • altcoins

    Các Cá Voi Crypto Đã Mua Những Altcoin Nào Trong...

    21 minutes ago
  • Най-добрите мемекойни за...

    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.