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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • 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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

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

cz-double-sa-mise-sur-ethena

Changpeng Zhao double sa mise sur Ethena : ENA va-t-il repartir à la hausse ?

n eChangpeng Zhao a renforcé son exposition à Ethena via YZi Labs, sa structure d’investissement. Le signal tombe à un...

evanss 2 hours ago

Metaplanet a Strategy kúpili Bitcoiny za vyše 700 miliónov dolárov

Bitcoin opäť udáva tón svetovým finančným trhom. Spoločnosti Metaplanet a Strategy nakúpili kryptomenu za stovky miliónov dolárov, čím posilnili dôveru...

Nina Šefčíková 2 hours ago
deutsche-bank-compare-bitcoin-or

Deutsche Bank compare le Bitcoin à l’or : “l’histoire se répète”

Deutsche Bank avance que Bitcoin pourrait rejoindre l’or sur les bilans des banques centrales d’ici 2030, non pour le remplacer...

evanss 3 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 Whales

Bitcoin Whales Sell 147,000 BTC Since August, Fastest Selloff Of Cycle

Keshav Verma 1 hour ago
Fitell Makes Bold Crypto Pivot as Australia’s First Solana Digital Asset Treasury, Will Snorter Token Be Next 1000x Crypto?

Australia’s First Solana Digital Asset Treasury: Will Snorter Token Be Next 1000x Crypto?

Aaron Walker 2 hours ago
Bitcoin

Bitcoin Is Not Done Yet Despite Price Crash To $112,000, Here’s Why

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • Akcje skarbowe krypto w spadku, podczas gdy traderzy zwracają się ku bezpieczniejszym przedsprzedażom kryptowalut, takim jak PEPENODE

    Akcje skarbowe krypto w spadku, podczas gdy traderzy...

    1 hour ago
  • Binanceův Aster roste o 1800 % za týden navzdory pádu trhu: Je Bitcoin Hyper dalším na řadě?

    Binanceův Aster roste o 1800 % za týden navzdory pádu...

    2 hours ago
  • Binanceov Aster raste 1800% u tjedan dana unatoč padu tržišta: Je li Bitcoin Hyper sljedeći?

    Binanceov Aster raste 1800% u tjedan dana unatoč padu...

    2 hours ago
  • Krypto pokladni akcie padají, obchodníci se obracejí k bezpečnějším presaleům jako PEPENODE

    Krypto pokladni akcie padají, obchodníci se obracejí k...

    2 hours ago
  • Krypto pokladni akcie padají, obchodníci se obracejí k bezpečnějším presaleům jako PEPENODE

    Kripto trezorske dionice u padu dok se trgovci okreću...

    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.