Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analysts Issue Warning – Why They Say Bitcoin (BTC) May Sink to $8,000

by Daily Hodl Staff
September 12, 2019
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

One of YouTube’s most popular crypto analyst says he expects Bitcoin to shift lower in the short term.

According to Nicholas Merten (aka DataDash), Bitcoin’s sluggish volume doesn’t bode well.

In addition, Merten says BTC failed to meet a resistance level around $11,000 early this month, which Merten believes is another sign that BTC could break to the downside.

“Volume has been abysmal. It’s commonly what’s expected until you really get a breakout or breakdown…

We didn’t even come to make contact with the line of resistance we’ve met three times in the past. It just seems at the moment we’re not seeing the momentum to really bring confidence into this market, for me to feel that we’re ready to break out just yet. It feels like price needs to come down toward a lower range in the 30 to 40% correction range that we commonly see. Even though we’ve already seen that at these previous lows [at $9,400].”

Merten says he’s thinks BTC could drop another $700 or more, and could sink to as low as $8,000 this month.

“We still haven’t made contact with the 21-week moving average. So perhaps it could be a correction down to test one final time here on that line. It would be about a $700 as we roll back here toward the lower end of the wedge.

So no matter what you think is going to happen, whether you think it’s going to be more severe, I do think we’re going to see some more downside here over the next few days. Somewhere around 8-10% minimal. And then possibly down towards around 20% if we push down to $8k. It just seems at the moment we’re not really seeing the momentum to really bring confidence into this market for me to feel that we’re ready to break out just yet.”

Fellow analyst Josh Rager is on the same page.

In a new series of tweets, Rager also identifies $8,000 as an area of strong support.

A similar -14% break below these current moving averages would likely take price to the $8k area where strong support and bids are likely waiting

Basically, don't put your eggs on this one basket (or one indicator) to hold up price for Bitcoin

Stay fluid and hedge accordingly

— Josh Rager 📈 (@Josh_Rager) September 12, 2019

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,339.00
$48,339.00
0.01%
Ethereum
$1,604.11
$1,604.11
6.14%
Binance Coin
$225.53
$225.53
0.15%
Polkadot
$33.33
$33.33
0.24%
Cardano
$1.12
$1.12
4.13%
XRP
$0.460185
$0.460185
0.41%
ADVERTISEMENT

Spotlight

  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021
  • Billionaire Mark Cuban Says Crypto Is About To Change How All Businesses Work – Here’s How
    February 27, 2021
  • Whales Are Preparing for Bitcoin and Ethereum Rallies As Four Altcoins Outperform the Market: Santiment
    March 4, 2021
  • Crypto Giant Grayscale Exploring Support for Nearly Two Dozen Altcoins – Here’s a Look at the List
    March 1, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.