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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

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