BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Bitcoin Price Could Drop Below $9000 Sans Buy Pressure

Bitcoin Price Could Drop Below $9000 Sans Buy Pressure
Following a week or so of relative inactivity in the mid $10k level, bitcoin price has broken down through support today. The asset has traded in five figures for the best part of this month but found itself back in the $9k zone during late trading yesterday.

Bitcoin Could Drop Below $9k
A death cross formed on the one hour chart earlier this week and as if in response, the downtrend intensified. Yesterday saw a slow but steady decline until one fat red candle dumped BTC all the way back to $9,900 according to Tradingview.com .
Within a few hours, bitcoin price rapidly recovered to $10,250 but could not hold gains and has begun to fall back again, currently trading at 0 0 . A fall below five figures again is looking inevitable and support lies around the $9,750 level.
BTC price 1-hour chart – Tradingview.com
According to crypto analyst ‘CryptoFibonacci’ the bounce was exactly where a Fib cluster lined up which provided a solid support for this short timeframe.
“An important Fibonacci retracement cluster lined up just perfect.  Not saying that is the bottom, but it was tradeable.”

$BTC 4 hour Chart. Why did it bounce where it did?
An important Fibonacci retracement cluster lined up just perfect. Not saying that is the bottom, but it was tradeable. #BTC pic.twitter.com/C21BN8GT1N
— CryptoFibonacci (@CryptoFib) September 11, 2019

With a test of the lower trend line of the large pennant formation, a breakout could be imminent. ‘Welson Trader’ identified a buying opportunity at every dip, and this one would have paid off with its 3.5% bounce.
“Noobs would’ve sold this dip, and been scared. Pro traders would’ve taken this as an opportunity to buy crypto’s at a discounted rate!”
Meanwhile, fellow trader Josh Rager has noted that without buyers stepping in over the next few days there will be a move back into the mid-$9,000s followed by a possible break to $8k.
“Bitcoin price breaks through current support area on the daily and through the 20MA. If buyers don’t step in the next couple days, we’ll see Bitcoin retest the previous support in the low $9ks. A break from there likely leads to $8k”

$BTC Update
Bitcoin price breaks through current support area on the daily and through the 20MA
If buyers don't step in the next couple days, we'll see Bitcoin retest the previous support in the low $9ks
A break from there likely leads to $8k pic.twitter.com/cZEM61eSFk
— Josh Rager 
</div>
	
<style>
/*  */

#screenshot{
	position:absolute;
	border:1px solid #ccc;
	background:#333;
	padding:5px;
	display:none;
	color:#fff;
	}
/*  */
</style>
<script src=
- - - - -

Thank you for Share!

   
Read the full Article

Read the full Article: Bitcoin Price Could Drop Below $9000 Sans Buy Pressure


Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News