{"id":388147,"date":"2019-07-01T07:30:45","date_gmt":"2019-07-01T07:30:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=388147"},"modified":"2019-07-01T06:14:57","modified_gmt":"2019-07-01T06:14:57","slug":"bitcoin-hash-rate-peaks-but-pullback-still-looming-as-analysts-eye-9k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-hash-rate-peaks-but-pullback-still-looming-as-analysts-eye-9k\/","title":{"rendered":"Bitcoin Hash Rate Peaks But Pullback Still Looming as Analysts Eye $9k"},"content":{"rendered":"

The Bitcoin network is looking stronger than ever but prices are starting to decline in a long awaited correction. The weekend had many thinking that the bulls could push higher, but those thoughts have been quashed Monday morning as markets continue to dump.<\/p>\n

Bitcoin Dumps 9% on The Day<\/h2>\n

The weekend witnessed a minor resurgence from Bitcoin which managed to push back above $12k for a few hours. It could not hold there however and started a slow slide shedding a thousand dollars over the past day, dropping back to around $11k. The decline marks a 9 percent loss for BTC as crypto markets dump $25 billion.<\/p>\n

\"bitcoin\"<\/a>
BTC price 24 hours, Coinmarketcap.com<\/figcaption><\/figure>\n

The weekly closing candle has also indicated that further losses could be imminent as indecision between bulls and bears could signal a short term trend reversal. The portentous looking \u2018shooting star\u2019 candle has been widely commented on around CT with many eyeing levels of support below five figures.<\/p>\n

The four hour chart has formed a descending channel with a pullback around the $9,000 area<\/a> where the 200 EMA lies. This also ties up with a predicted correction of over 30 percent which would put BTC in the same zone from its recent high of $13,800.<\/p>\n

Crypto trader Alex Kr\u00fcger has mapped out all of the possible areas of support and resistance:<\/p>\n

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Very useful… thanks for posting https:\/\/t.co\/KzyC9eKFZ4<\/a><\/p>\n

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) July 1, 2019<\/a><\/p><\/blockquote>\n