Trading July 17, 2019 Daily Hodl Staff

CNBC Analyst Shorting BTC As Leading Crypto Hits $9,800 – Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, EOS, Binance Coin, Tron Forecasts

Futures trader, analyst and founder of GRZ Energy, Anthony Grisanti, says he’s shorting Bitcoin. On CNBC’s Futures Now, Grisanti says he’s looking for BTC to drop below $9,000.

“I’m looking for a move back down to $8,900. And if I get stopped in, I’m going to put my stop in at $10,500 because I think the market is going to have a hard time getting above that.”

Meanwhile, analyst Josh Rager suggests that today’s Bitcoin bounce from $9,200 to around $9,800 is likely a short-term pop before the price moves back down.

$BTC update

Bitcoin had a nice bounce that tapped the previous 4hr chart low and I honestly think it needs to push up more before continuation down

Watching the daily resistance area overhead in between $10,192 to $10,342 as potential short term top if price breaks above $9830 pic.twitter.com/REu3VzgP3l

— Josh Rager 📈 (@Josh_Rager) July 17, 2019

Rager says his analysis of Bitcoin’s current price action combined with on-chain data indicates Bitcoin may hit a short-term bottom at around the $8,000 mark.

“If I had $10k, I would buy 25% BTC around the mid to high 9ks, another 25% around $9k and another 25% between 8k to 8.5k and have 25% left in case it goes under 8k.

Some suggest 5.6k to 6.4k but support is heavy at $8k.”

At time of publishing, Bitcoin is up 1.05% at $9,764 according to COIN360. Ethereum is up 7.56% at $215.14, XRP is up 8.08% at $0.3184 and Litecoin is up 15.02% at $91.60.