Bitcoin to Aim Below-$8,000 Zone Before Next Rally Kicks Off: Analysts

Bitcoin once again plummeted from its previous support level to $8,700 after the brief attempt by BTC for the bulls to fall to their short-term support level, apparently at a time of collapse then The resistance level overturned. This measure

Analysts believe that Bitcoin can soon set new multi-day lows, which leads to greater buying pressure.

Bitcoin Rejected at $8,700 as Bulls Fail to Garner Significant Strength

At the time of writing, Bitcoin is trading down approximately 1% at its current value of $8,540, marking a return of its daily maximum of around $8,700 set yesterday.

Yesterday's brief upward movement proved fleeting despite the apparent force in which the bull was built, and the inability to further boost cryptocurrencies could signal an underlying weakness that would have given the cryptocurrency its near value signature. He can ask you to take control. Action.

This recent price action also confirms that there is a strong level of cryptocurrency resistance of $ 8,700, which can continue to remain strong in the short term.

Livercon, a popular cryptocurrency analyst on Twitter, reported in a recent tweet. This resistance level move swept all reversed liquidity, which means that a short-term low for Bitcoin is imminent.

Will the next bullish movement occur when BTC taps $8,150?

Another popular crypto analyst on Twitter, Mene, offered a similar sentiment for LiverCoin. Stating that he believed Bitcoin would drop to $8,150 in the short term before it was a support. Hit the area that allows you to gain a greater advantage.

"$ BTC: slowly, the gray block that I have been observing for a few weeks is making its way to me. I started wishing too fast because there is no guarantee that we will really reach this level. They are, I can move on, etc., I like to overlap swing positions. There are 2 offers left, $ 8300 and $ 8150, "he explained.
The way in which Bitcoin reacts to these areas close to support in the next few hours will provide important information on where the cryptography is headed.

Bitcoin Cost Drops to $8,000 as Bulls Fails to Step into it

Sorry bull, the Bitcoin ball (BTC) is back on the bears court. At the time of writing this article, the price of major cryptocurrencies has increased to just over $ 8,000, taking advantage of this key price point in a decrease of approximately 5%. Buyers have begun to move forward, even modestly, making BTC return to $ 8,100.

Bitcoin is ready for more pain as price taps $8,000

At the end of last month, the price of Bitcoin increased by 42% over a 24-hour period. It reaching an astonishing turn of events from $ 7,200 to $ 10,500. While the movement was undoubtedly fast, the movement has not done much to stop bleeding from the cryptocurrency market, which has been going on for months. Case in point, the low $ 8,000 has been reviewed again.

And analysts say this is bad for the short-term future of the cryptocurrency market.

The Byzantine general trader points out that the movement is painful, as it pushes BTC below the main horizontal support of $ 8,300. Which many said was a breaking point for this market. Therefore, he concluded that he believes it would make sense for cryptocurrencies to visit the lowest lows of $ 7,000. Which marks a 15% drop from current price levels.
The Crypto ISO trader echoed this, noting that the recent decline has led Bitcoin to a macro trend line that has been relevant for months. A step below that level would be an opportunity to restore promotion.

Ethereum May See Upside Break: Analyst Anticipates

Ethereum price action has been following Bitcoin closely over the past few days and weeks, which has allowed ETH to rise slightly today as consolidation begins within the $180 zone.

A leading analyst now quickly realizes that he expects ETH to see a reversal in the short term, raising it to its strongest short-term resistance level that currently exists at $200.

Ethereum enters consolidation phase in the middle of the $180 region

At the time of writing, Ethereum is trading at just under 2% at its current price of $186.90, indicating a decent rise from its daily lows of $182.

ETH's recent upward momentum has allowed it to fall to $180 since its several-day increase. Which set at $8,300 with the recent Bitcoin fall. It is very likely that Ethereum for BTC will also continue in the near future as a bull. Try to overcome its resistance close to $8,700.

Assuming Ethereum can continue to rise further by the end of the week, it is very likely that $190 is its immediate resistance level since it has been above this level for more than a week in the time before its recent fall. I was struggling to break. For $180.

One factor that could come into play in ETH's short-term price action is that its 24-hour trading volume has decreased by almost 50% according to TokenAnalyst figures.

Analyst: ETH may soon see an upside-down break

Despite the decrease in the volume of operations, it is important to note that Nick Patel, a popular cryptocurrency analyst on Twitter, reported in a recent blog post. He imagines that Ethereum will continue to operate sideways for a while, which eventually breaks the advantage. It can be sent before the application. He spent his strong resistance at $200.
If ETH is going to perform reverse braking in the short term. It is imperative that Bitcoin freezes and stabilizes the transactions, or something starts to move up since BTC will negatively lower Ethereum probably.

Bitcoin Can Be Down for Long-Term as Bulls Fight Back

After a period of commercial expansion of around $8,500, the Bitcoin bull began fighting, pushing crypto to $8,700. Despite this upward trajectory today, it is important to keep in mind that BTC cannot yet rise above its previous support level of around $8,800.

Now analysts believe they believe that Bitcoin is close to creating a long-term term that will help increase its price more in the short term, despite the recessive conditions surrounding its trading volume.

Bitcoin climbs toward $8,700 as Bulls push back against Bears

At the time of writing, Bitcoin is trading more than 1% at its current value of $8,650, indicating a decent rise from its recent lows of $ 8,300 that led to the decline of BTC earlier this week. They settled on the lower level.

Before reaching these lows earlier this week, Bitcoin was receiving significant support between $ 8,700 and $ 8,800, so it is very likely that this level is now in the form of efforts to push the cryptocurrency above this price zone The resistance will work.

It is important to keep in mind that the recent Bitcoin price action at the same time has come with a large drop in trading volume, which may indicate a slowdown.

Cantering Clarke, a popular cryptocurrency analyst on Twitter, described this low volume as "ugly" in a recent tweet.

Will Lower-$8,000 Region Mark a Long-Term Bottom for BTC?

Despite the recessionary business that BTC currently faces. It is also important to keep in mind that analysts remain optimistic that cryptocurrencies will see more profits soon.

Another popular cryptocurrency analyst on Twitter, Nick Patel, said in a tweet that he believes Bitcoin could reduce another part to $8,000 in the short term. But also that it would take a long way to the sector for BTC. Expect to mark the period below.
How Bitcoin continues to react lower: crypto 2019 will end in a secret note in the $ 8,000 areas, or provide invaluable information if bulls will be able to increase their highest price in the short term.

Since Bitcoin Was at $4,000 BTC Volume Lowest: Price Breakout Near

For some reason or another, Saturday was an extremely quiet day for Bitcoin and the broader cryptocurrency market. In fact, Sam Bankman-Fried, CEO of Alameda Research, a cryptocurrency trader who led a team to create a $50 million BTC (according to some reports), wrote on Twitter that "this is the basis of cryptography. It can be the day of lower volume and volatility. The industry has studied the Loong times. "
Many say that this low volume trend is a sign of an impending break, one that can decide the medium-term future of the entire crypto asset market.

Bitcoin Volume Plunges Out of Nowhere

For more references on this "lifeless" market, here are some figures. In the last 24 hours, the main Bitmex derivatives exchange saw only 86,000 BTC, less than $1 billion, in negotiated volumes.

This is the highest daily volume seen in all 2019 exchanges and in fact, the lowest level seen since November 10, 2018. Certainly, Bitcoin debuted only a few days before falling from $6,000 to $3,000.
It is not just Bitmax that feels the pain of this crypto winter redux. Steven Zheng of the block recently noted that "Coinbase records ~ ~ 57M, given its lowest daily trading volume in months."

He said the last time this metric was "was in March."

What is notable about the end of March is that the sudden increase of Bitcoin from $4,000 to $5,000 at the beginning of April kicked off the rally bringing the cryptocurrency to $14,000.

Volatility Impending

Other indicators indicate volatility. According to previous NewsBTC reports, the one-week Bollinger Bandwidth Indicator (BBW), an indicator that reflects the width between the highest and lowest Bollinger bands, is a tool used to determine the range itself: a great The BTC suggests the movement. Horizon

At this time, the indicator is at 0.42, a level of long-term non-volatility. The last time this indicator interacted with this range of BBW was at the end of March: 4 weeks of Bitcoin entering the micro bull market this year, from the staggering amount of $4,000 to $5,000.
BBW was also under the range of 0.40 just a week or two before Bitcoin crashed in November 2018, when the previous bullfight began in October 2016, and broke for more than $100 for the first time in 2013, A few months before Bitcoin. It was.

Ethereum Price Weekly Anticipate: Significant Support on Risk

The price of ETH faces strong resistance near the $184 and $185 levels against the US dollar.
The price is quoted above the main support of $178, which is at risk.
In the 4-hour chart (data feed through KKken) of ETH / USD, $186 has a significant downtrend line with resistance.
The pair is currently declining and may have difficulty eliminating support levels of $178 and $176.
Ethereum costs less than $185 against the US dollar, similar to Bitcoin. The price of ETH remains below the support area of ​​$176 at the risk of a negative break.

Ethereum weekly price analysis

Last week, Ethereum withdrew the dominant resistance zone of $190 against the US dollar. However, the price of ETH failed to continue rising, which resulted in a further fall below the $188 support zone.

In addition, the key was a break below the $186 support area. In the end, $184 support and 100 was a close below the simple moving average (4 hours). The bears gained momentum below the $180 level and a low formed near the $177 level.

The $176– $178 support area seems to be playing an important role for bulls. Recently, there was an improvement above the $180 level. In addition, there was a break above the 23.6% fiber retracement level of a downward movement of a $190 swing to a low of $177.

On the positive side, Ethereum's price faces strong resistance near the $184 and 100 SMA level. The 50% retracement level of the downward movement from the $190 swing to the $177 low is also close to the $184 level.

More importantly, in the 4-hour ETH / USD chart, $186 has a significant downtrend line with resistance. Therefore, the price may face strong resistance, from $184 to $186.

That said, the price should be set above the $188 and $190 resistance level to move into positive territory. The next big resistance is near the $200 and $205 level.

On the negative side, the $178 and $176 levels have several important supports. If there is a daily close below the $176 support, the price could drop dramatically. The next main support is close to the $165 and $160 levels.
The table above indicates that the price of Ethereum is clearly decreasing towards the support area of ​​$176. Therefore, you can recover more than $185 or increase the decrease towards $165.

Technical indicators

4-hour MACD: MACD for ETH / USD is gradually moving to the recession zone. 4-hour RSI: the RSI for ETH / USD is currently below the 50 levels with a bearish angle. Key Support Level: $ 176. Major Resistance Level - $ 188

Bitcoin Worth at Last Point of Defense: $8,270 Must Hang on

At the end of last month, Bitcoin (BTC) caught traders across the industry with their pants: in one day, the leading cryptocurrency reported a 42% drop, jaw drop, from $7,200 to $10,500 in historical movements. It has increased. In fact, that day marked the fourth largest Bitcoin daily movement … ever, and the biggest jump in percentage terms since 2011.

Despite this growth, the encryption market has continued to bleed. At the time of writing this, the price of BTC has reached $8,535, 1% or 2% more in the last 24 hours. Mild reiterated, with an analyst claiming that the BTC had reached its "last line of defense". It would have to captured or avoid a disaster.

Bitcoin Must Hold$ 8,300

The analyst CryptoDude recently pointed out that the Bitcoin chart shows that "it is undeniable that it is in the lead at the moment". Before adding that until the bulls achieve something spectacular, "it will become really serious". He then referred to the table saying yes $ 8,270. Which he called the "last line of defense", the pain is gone.
CryptoDude says the BTC is spreading for at least $8,000 in very dangerous territory, created by another popular trader, TraderX0. He explained in the tweet. Which was published on Saturday morning, that "a score below $8,300 would not be good". As they point out, $8,300 is a significant support level in a descending channel that aligns with the horizontal support.
While the BTC can receive a bounce off $8,300, the ball may be on Bear's court. Capo of Crypto recently noted that the 42% jump mentioned above, although accelerating even more in itself, is not a concrete indication that the downtrend has reached a critical point.
He commented that the $10,500 jump validates a series of lows and lows, still indicative of a downtrend. That's not all, the Guppy / Fishnet indicator is still printing gray bands. This means that Bitcoin's medium-term trend is not yet specified, and it can actually be a recession, not a strong one.