Bitcoin, the dominator in the crypto world, is currently being dominated by the bears. The crypto coin is sustaining a downslide pattern, affecting the crypto market at large. Priorly, the analysts had predicted an upward pricing pull by the bulls; however, the digital currency kingpin showed no such ascend.
Today, the analysts have predicted another upcoming significant drop in the prices, hinting towards the arc bottom.
BTC price’s next stop is lower
Fandorinn, the crypto analyst on TradingView, focuses on short sell, predicting the next stop for bitcoin being lower. According to the examiner, bitcoin prices are on the broader part of the descending triangle. As stated, the price can plunge below $6,500.
Bitcoin can drop as far as 3K
skjcolvin, another TradingView analyst foresees a drop. As per the analyst, $6,000 stands as the key red zone support. On analyzing the possibilities below $6,000, the price is predicted to further drop up to $3,000. skjcolvin also calculates $5,500 as the current actual value and hints at a slump in prices beyond this.
Josh Rager, the crypto trader, envisions the lowest BTC hit between $6,600 to $6,300.
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
BTC can plunge to new lows
London_fx_club suggests the slide of price to new lows this week. As per the analyst, bitcoin will violate $7,000 and close below, reaching to a bottom of $3,000.
An imminent dip below 6K
TradingView analyst, Jthrasher states short sell, claiming that what goes up must come down. The analyses indicate a further decline in prices below 6K.
The analysts foretell a fueled ride towards the downfall. Bitcoin might stay under the bear claws and bulls might face disappointment for a longer span.
The uncertainty is high in the community. Traders are advised to be diligent before making a decision. Your insights about the future of BTC are welcome in the comment section below.