Express

If BTC Drops Below $8,600 It Could Open The Door For Even Greater Losses

Emily Mason

Summary: Some analysts believe Bitcoin is forming a large consolidation pattern after stubborness in the mid-$9,000 region and repeated failures to breach $10,000, as reported by Bitcoinist. One analyst noted in a tweet that if BTC drops below $8,600 it could replicate a previous bearish pattern.  Commentators have also noticed that BTC has been hitting lower ...

Some analysts believe Bitcoin is forming a large consolidation pattern after stubborness in the mid-$9,000 region and repeated failures to breach $10,000, as reported by Bitcoinist.

One analyst noted in a tweet that if BTC drops below $8,600 it could replicate a previous bearish pattern. 

Commentators have also noticed that BTC has been hitting lower tops each time it attempts to break $10,000. First it hit $10,400, then $10,050, and most recently $9,600 has been its price ceiling.

By Emily Mason

Last Update:

Tags: ,,
Link: If BTC Drops Below $8,600 It Could Open The Door For Even Greater Losses   [Copy]
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 8 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 15 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 19 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 22 days ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 26 days ago
  • You need to login to comment.