Bitcoin Collapses Under $9,000, Falls Out of Triangle<\/title>\n<meta name=\"description\" content=\"Newsflash: Bitcoin (BTC) has just collapsed under $9,000 for the first time in months. The cryptocurrency is down some 8% in the past 24 hours, trading at\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-collapses-under-9000-falls-out-of-triangle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Collapses Under $9,000, Falls Out of Triangle\" \/>\n<meta property=\"og:description\" content=\"Newsflash: Bitcoin (BTC) has just collapsed under $9,000 for the first time in months. 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{"id":397027,"date":"2019-09-24T19:03:32","date_gmt":"2019-09-24T19:03:32","guid":{"rendered":"https:\/\/ktsl888.com\/?p=397027"},"modified":"2024-06-11T07:51:59","modified_gmt":"2024-06-11T07:51:59","slug":"bitcoin-collapses-under-9000-falls-out-of-triangle","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-collapses-under-9000-falls-out-of-triangle\/","title":{"rendered":"Bitcoin Collapses Under $9,000, Falls Out of Triangle"},"content":{"rendered":"

https:\/\/twitter.com\/Josh_Rager\/status\/60971266<\/p>\n

Altcoins have been absolutely destroyed. Ethereum has shed 13% in the past 24 hours; Bitcoin Cash, -20%. The market capitalization of the cryptocurrency market has collapsed all the way to $240 billion.<\/p>\n

With this massive flash crash, Bitcoin has shed an array of clear support levels \u2014 the descending triangle bottom of ~$9,500, the horizontal support of $9,400, and key moving averages. A daily and weekly close at these levels could thus be disastrous for bulls, at least in the medium-term.<\/p>\n

It may not be curtains closed for this bull market, however. Martin Chebbi, a Twitter user, reminded Crypto Twitter users that a loss of a descending triangle “doesn’t necessarily mean the end of a bull run”. He notes that in 2017, Bitcoin similarly shed a triangle, to only rally above it in the months that followed.<\/p>\n

https:\/\/twitter.com\/marvinchebbi\/status\/27863041<\/p>\n

Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"

Newsflash: Bitcoin (BTC) has just collapsed under $9,000 for the first time in months. The cryptocurrency is down some 8% in the past 24 hours, trading at $8,900 as of the time of writing this price update. https:\/\/twitter.com\/Josh_Rager\/status\/60971266 Altcoins have been absolutely destroyed. Ethereum has shed 13% in the past 24 hours; Bitcoin Cash, -20%. The market capitalization of the cryptocurrency market has collapsed all the way to $240 billion. With this massive flash crash, Bitcoin has shed an array of clear support levels \u2014 the descending triangle bottom of ~$9,500, the horizontal support of $9,400, and key moving averages. A daily and weekly close at these levels could thus be disastrous for bulls, at least in the medium-term. It may not be curtains closed for this bull market, however. Martin Chebbi, a Twitter user, reminded Crypto Twitter users that a loss of a descending triangle “doesn’t necessarily mean the end of a bull run”. He notes that in 2017, Bitcoin similarly shed a triangle, to only rally above it in the months that followed. https:\/\/twitter.com\/marvinchebbi\/status\/27863041 Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":393610,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,2887,3504],"class_list":["post-397027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-market","tag-price"],"acf":[],"yoast_head":"\nBitcoin Collapses Under $9,000, Falls Out of Triangle<\/title>\n<meta name=\"description\" content=\"Newsflash: Bitcoin (BTC) has just collapsed under $9,000 for the first time in months. 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