• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
bitcoin btc price to $6500

Bitcoin (BTC) Price Could Drop to $6,500 Before Fresh Rally

Martin Young by Martin Young
4 years ago
in Bitcoin Price
0

A little hopium filled the crypto community over the weekend as Bitcoin (BTC) price attempted a push higher. Sunday saw it evaporate however as all gains were lost again and this morning has been even worse with a fall back below $8,000 again. Analysts are predicting a further 20% dump.


Bitcoin Price Fails to Hold $8k

Over the weekend the solid support at $8,000 has started to turn into resistance as bitcoin price continues to weaken. The past three days have been pretty flat which means there is no bounce and no posse of buyers waiting to get in at this level.

The highest BTC reached over the past 24 hours was $8,200 but by Monday morning in Asia, it had fallen back below $8k once again according to Tradingview.com. At the time of writing, BTC was trading at [coin_price] and looking at further declines.

bitcoin
BTC price 1-hour chart – Tradingview.com

The next level of support for bitcoin price from here lies at $7,500 though analysts are mostly in agreement that it could fall further. Josh Rager has been looking at the monthly chart and has eyed major support in the mid-$6,000 range.

“IMO, the lowest $BTC will hit: between $6300 to $6600 where there is major interest.
Price currently bounced off monthly support & if this area breaks could head to $6600 – based on higher time frames,”

Have been asked how far can $BTC drop

IMO, the lowest $BTC will hit: between $6300 to $6600 where there is major interest

Price currently bounced off monthly support & if this area breaks could head to $6600 – based on higher time frames pic.twitter.com/sBiKFu7qAc

— Josh Rager ? (@Josh_Rager) September 29, 2019

This was the most traded price of 2018 so it stands to reason that it could provide the bottom of this downtrend.

Bitcoin price closed a $2,000 weekly candle which is the largest seven-day dump it has had since January 2018. On the daily chart the uptrend for 2019 is still intact but the 50 day MA is dropping closer to the 200 day MA indicating a major trend reversal.

More triangles are being painted on the charts so another breakout could be coming this week according to ‘Crypto Hamster’.

There was a false breakout, then BTC returned back and broke the triangle again after that.
Now it is testing the triangle from the top. Let's see. $BTC $BTCUSD #bitcoin pic.twitter.com/jyKUPqOien

— CryptoHamster (@CryptoHamsterIO) September 29, 2019

Elsewhere on Crypto Markets

A further $8 billion has left the space over the weekend as total crypto market capitalization tumbles towards $200 billion. Crypto winter is setting in for many of the altcoins again as a sea of red washes over them all this Monday morning.

Ethereum attempted a spurt of action up to $175 but has dumped back below $170 again today. XRP is getting weaker every day and is now back below $0.24 and the same is occurring with Bitcoin Cash which has fallen below $220 in a 5% slide.

Things could get very messy for crypto markets if the analysts are correct and $6k BTC is inbound.

Will bitcoin price drop as low as $6,500? Add your comments below.


Images via Bitcoinist Image Library, BTC/USD charts by TradingView, Twitter: @Josh_Rager, @CryptoHamsterIO

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Crash: Derivative Traders Lose $202 Million In 24 Hours

3 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level

4 months ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

4 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

4 months ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

4 months ago
bitcoin S&p 500

Why The S&P 500 Could Help Send Bitcoin Soaring Higher

4 months ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    3 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    3 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    4 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Sphere Financial Inc: Transforming the World of Finance...

    10 hours ago
  • As Whales’ accumulation of Ethereum (ETH) skyrockets...

    11 hours ago
  • Strategic Crypto Investments: 5 Coins to Watch in 2023

    11 hours ago
  • Ethereum (ETH) Holders Eye InQubeta (QUBE) Presale as...

    12 hours ago
  • Why InQubeta’s (QUBE) Innovative Technology Could...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. 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.