• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
bearish chart
Nexo Logo

Analysts Turn Bearish On Bitcoin As Crypto Markets Run Red

Martin Young by Martin Young
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Bitcoin has remained above five figures for another day, but only just. As the red seeps in to crypto markets, analysts are leaning bearish with further losses predicted before any meaningful upsides.

Bitcoin Slides Towards Four Figures

Following a couple of visits to $10,400 yesterday and a generally positive start to the week, Bitcoin is on the back foot again. A couple of recent candles during the Asian trading session have dropped prices back to $10,100 as another dip back into four figures is looming.

bitcoin
BTC price 1 hour chart – Tradingview.com

Zooming out reveals that the market chop has simply continued and more consolidation is likely. Some analysts are eyeing short term losses before long term gains. Trader and analyst ‘CryptoFibonacci’ has identified a large bullish pennant forming on the day chart which may run for another two months.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“A very nice Bullish pennant. Do I buy in here? Depending on your timeframe, you sure can. Unless you have over $20,000, is it gonna make your day or make you a millionaire? No, it won’t. So, just get that thought out of your mind. It is my view that until this closes below 9,000 that we go higher.”

Ok, so I see a lot of "Noise" on Twitter and everybody wanting to make their "calls". Well, here is mine.$BTC Daily "Line" Chart. A very nice Bullish pennant. Do I buy in here? Depending on your timeframe, you sure can. Unless you have over $20,000, is it gonna make your

— CryptoFibonacci (@CryptoFib) August 27, 2019

Other traders such as ‘WelsonTrader’ have reveled in the recent chop and swing action on markets. Another shorter time frame pennant has been identified here and this trader is bullish on it. A close above $10,500 would be bullish while below $10k would be a bearish breakout.

“A lot of traders are scared of #Bitcoin’s recent price action, although I think this last few months have been some of the easiest times to trade! This is the second wedge we’ve formed, and they provide almost guaranteed profits!”

https://twitter.com/WelsonTrader/status/1166227519785377793

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Others such as ‘dave the wave’ remain bearish stating that the MACD cross is starting to tell the story in the short term. He added though that this would be good for more consolidation and accumulation opportunities.

Elsewhere on Crypto Markets

Since this time yesterday crypto market capitalization has shrunk by $5 billion as BTC runs out of steam above $10k and the altcoins dump again.

Ethereum has dumped over 2 percent as it falls back to the $185 level and support. XRP is also in decline below $0.27 and Bitcoin Cash is looking bearish as it approaches $300.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Binance Coin has dumped 5 percent as it slides back to the $25 level while Bitcoin SV has begun its inevitable decline following a court ruling in favour of the plaintiff who was rewarded half of Craig Wright’s Bitcoin stash valued at an estimated $5 billion at today’s prices.

Image from Shutterstock
Tags: bearishbitcoinconsolidationmarkets
Tweet123Share210ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

crypto

Strength In U.S. Dollar May Have Killed Bullish Momentum In Crypto Market?

1 hour ago
Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

2 hours ago
Bitcoin Tumbles As Fed Opts For Restrictive Rates

Bitcoin Tumbles As Fed Opts For Restrictive Rates

2 hours ago
Axie Infinity

Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone

4 hours ago
Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

5 hours ago
Bitcoin

Why Bitcoin Is Cheap At $23,000, Says Fidelity Expert

5 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Why are Runfy, Bitcoin and Tron being considered the next cryptos to explode in 2022

August 18, 2022

Keninah Concord: Saving The World With Blockchain-Based Solutions

August 18, 2022

How Adirize DAO, Litecoin and Floki Inu Could Be A Great Bear Market Opportunity

August 18, 2022

LBank Exchange Will List THANKQ (TQP) on August 18, 2022

August 18, 2022

Crypto Finance Coin (CTFC) Is Now Available for Trading on LBank Exchange

August 18, 2022

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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 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.