• 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: Bitcoin Price Retests $27K Following Fed Rate Decision
  • 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: Bitcoin Price Retests $27K Following Fed Rate Decision

Analysts: Bitcoin to Post More Losses After BTC Flash Crash to $11,200

Nick Chong by Nick Chong
4 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

Youch. On Saturday, Bitcoin (BTC) was subject to the umpteenth flash crash in the past few weeks. Within a few minutes’ time, the cryptocurrency had shed $500 — around 4.5% — to lose the key support of $11,800.

Related Reading: Crypto Tidbits: Bitcoin Mining by Blockstream, Ripple Investment Plans, Binance US Unveils Altcoin Lineup

Bitcoin has since found some stability, ranging between $11,100 and $11,450. Altcoins have, surprisingly, outpaced BTC for the first time in a number of days, with some crypto assets managing to post slight gains on the day.

Analysts Leaning Bearish on Bitcoin

Despite the stability and minor resurgence in altcoins, analysts are still leaning bearish on Bitcoin. You see, the sudden drop lower was not followed by a bullish rebound, as BTC remained trapped under a number of pivot points.

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!

So with it understood that Bitcoin isn’t doing all too well, where are Crypto Twitter’s top analysts and investors expecting for BTC to head?

Adaptive Capital’s Murad Mahmudov, one of the most respected cryptocurrency traders on Twitter, recently explained that he is looking for a dip to occur — but one that won’t be that severe.

Two blue circles are buy the dip areas of interest for me with the higher one being more likely imo pic.twitter.com/Ei8dAM8Jag

— Murad (@MustStopMurad) August 10, 2019

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

As he outlined in the chart above, there are two levels that are currently piquing his interest — $10,900 and $10,000. Those two price points coincide with two technical levels: one being a moving average, the other being an uptrend that BTC has bounced off of at least three times during its recent rally.

Related Reading: Bitcoin & Tether Trading at a Discount in China: What Safe Haven Narrative?

Mahmudov claims that he believes Bitcoin is more likely to stay above $10,900 than to fall to $10,000. But, should a move lower occur, he won’t mind accumulating some coin at $10,000.

The Adaptive Capital chief investment officer isn’t the only that expects for BTC to enter into the $10,000 range. Up-and-coming chartist Crypto Hamster recently explained that Bitcoin is likely to find support at prices lower than current trading levels.

While he didn’t have an exact price target, he/she did note that there is a mass confluence of technical levels and trends in the $10,000 range.

For instance, the 50-day moving average is currently at $10,930, and the low of the trading range is just $80 lower. Also, there are some key lines, like a rising support trend and Bollinger Band base, in the low-$10,000s, right above where Mahmudov’s secondary target is.

Bearish short term scenario.
Long entry zone is shown in green.
Aggressive entry at 11020$.
Safer entry at 10250$.$BTC $BTCUSD #bitcoin pic.twitter.com/rUveOOAKdP

— CryptoHamster (@CryptoHamsterIO) August 10, 2019

In other words, if selling pressure is to persist and bulls fail to step in, Bitcoin is likely to find some reprieve around $10,000. But whether or not that to-be-had bounce has momentum remains to be seen.

Trend Still Bullish

It is important to note that the overall trend for Bitcoin is still bullish. As reported by NewsBTC previously, the Moving Average Convergence Divergence (MACD), a trend indicator, recently crossed into the positive — green — for Bitcoin’s one-day chart.

The last time this technical signal was observed, BTC saw two massive rallies in the coming weeks. Should history repeat, the cryptocurrency still has a good 40% or so.

Featured Image from Shutterstock
Tags: bitcoincryptomarketprice
Tweet123Share225ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin

Bitcoin Liquidity Crisis Gets Worse, Here’s What It Means For Price

58 mins ago
Cardano Rally

Cardano (ADA) Price Saw Technical Breakout: Big Reaction From Bulls Imminent

4 hours ago
Ethereum

Ethereum Price Rally To $2,000 On The Horizon, As Bears Show Weak Hands

5 hours ago
Bitcoin

Bitcoin Price Trims Losses But Remains In Range, What Could Trigger Fresh Rally

7 hours ago
Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

Bitcoin Nears $29,000 As Fed Rate Hike Brings Clarity To Market

12 hours ago
Aave

How Soon Can We Expect Aave To Target $80?

13 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

IBC Group Incubates Chirpley, Pioneering a New Era of Digital Marketing with Nano-Micro Influencer Marketplace

March 24, 2023

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023

The Best Altcoins To Get In Early 2023: TMS Network (TMSN), TRON (TRX) and Mask Network (MASK)

March 24, 2023

The Web3.Conference will gather Web3 builders & creators this May in Amsterdam

March 24, 2023

LFi Unveils LFi Smartphone, Providing Unprecedented Access to Decentralized Financial Opportunities

March 24, 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.