• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
Bitcoin price BTC decline

Bitcoin Price Could Hit $8k as Major Outward On Chain Flows Increase

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

As Bitcoin continues with its now tedious consolidation, analysts are still searching for the next direction. Most are siding with the bears at the moment as downwards momentum is looking more likely. One view taken from a longer term trend indicator could see BTC fall to $8k not too soon.

Bitcoin Poised to Fall

The daily outlook for BTC is as uneventful as it has been for the past week or two. The range bound trading has continued within an ever tightening channel and a break out appears to be imminent. According to Tradingview.com Bitcoin briefly touched $10,200 yesterday but has fallen back since.

bitcoin
BTC price 1 hour – Tradingview.com

BTC has now entered into another consolidation phase around the $10k level where it currently trades following an uneventful and weak Asian session. Daily Bitcoin volume has started to fall and is currently back at $14 billion.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Renowned trader and analyst, Josh Rager, has been looking at some longer term exponential moving averages for guidance. On the weekly chart the 20 and 21 EMAs have acted as solid support during the past rally and are likely to replicate that behavior during this one.

“The weekly 20MA and 21EMA on the Bitcoin weekly chart are now well-known indicators that acted as support in the last uptrend. But BTC price did happen to break below the MAs twice roughly -14% & -6%. Currently, the 20MA is near $9,585 and 21EMA is near $9,230”

The weekly 20MA and 21EMA on the Bitcoin weekly chart are now well-known indicators that acted as support in the last uptrend

But BTC price did happen to break below the MAs twice roughly -14% & -6%

Currently, the 20MA is near $9,585 and 21EMA is near $9,230 pic.twitter.com/FE96PIjKqE

— Josh Rager ? (@Josh_Rager) September 12, 2019

He added that a similar break below these indicators at the current time would cause a drop back to the $8,000 level where there are likely to be a lot of buy orders waiting.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

On chain flows show an exodus across all major exchanges over the past 24 hours so a fall back blow five figures appears to be inevitable.

? 24H BTC exchange on-chain flows:#binance: $62M in | $86M out#bitmex: $7M in | $19M out#bitfinex: $4M in | $7M out#bitstamp: $8M in | $10M out#bittrex: $3M in | $5M out#poloniex: $2M in | $4M out

See more at https://t.co/u90eafzR5J

— TokenAnalyst (@thetokenanalyst) September 12, 2019

Elsewhere on Crypto Markets

Total crypto market capitalization is hovering just below $260 billion at the time of writing, with Bitcoin commanding just over 72 percent of it. It has been gradually sliding all week, along with total volume which also indicates more pain before any gain.

Ethereum is weakening yet again as it drops back below $180 and XRP continues to crumble towards a break below $0.25. The biggest loser in the top twenty today is Binance Coin which has dumped 6.5 percent on the day in a fall back to $20. Fears of an exodus before the launch of Binance.US, where it won’t be listed, appear to be accelerating as BNB gets offloaded.

Image from Shutterstock
Tags: bitcoinBNBEMAon chain flowprice
Tweet123Share196ShareSend
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

Utländska Casino – Bästa Utländska Spelsidor med Trustly

Utländska Casino – Bästa Utländska Spelsidor med Trustly

5 hours ago
Solana

Solana Posted Recent Gains But This Price Zone Remains Crucial

7 hours ago
Bitcoin

Bitcoin CME Gap at $28,000 Filled, But Correction Risk Looms

8 hours ago
Bitcoin

Bitcoin Shows 35.8% Weekly Gains: Why This Means The Top Is Near

9 hours ago
Binance's BNB emerges top gainer

Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

10 hours ago
Taiwan regulations

Taiwan Follows Hong Kong With Plans To Regulate Crypto

11 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Aave News Points To Head Of Development In Search Of AI Solutions – Avorak AI Proves Itself In ICO Phase

March 20, 2023

New Meme Project Love Hate Inu Raises $1 Million & Enters Stage 2 of Presale

March 20, 2023

TMS Network (TMSN) Holders Enjoy Gains in Presale Attracting New Investors from PancakeSwap (CAKE) And Algorand (ALGO)

March 20, 2023

USD Coin (USDC) And Cardano (ADA) Suffer Losses While TMS Network (TMSN) Explodes in Presales

March 20, 2023

TMS Network (TMSN) Emerges as the New Favorite of Investors, Leaving Filecoin (FIL) and Arweave (AR) in the Dust

March 20, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2022 NewsBTC. All Rights Reserved.

  • 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
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.