{"id":405034,"date":"2019-11-21T09:23:14","date_gmt":"2019-11-21T09:23:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=405034"},"modified":"2024-06-11T08:55:56","modified_gmt":"2024-06-11T08:55:56","slug":"bitcoin-loses-8000-week-long-battle-price","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-loses-8000-week-long-battle-price\/","title":{"rendered":"Bitcoin Loses $8,000 After Week-Long Battle; Price on Edge of Cliff"},"content":{"rendered":"<p>Sorry bulls, bears have won this time. As of the time of writing this, the price of Bitcoin (BTC) has just plunged below $8,000 after holding above that level for nearly a week. The cryptocurrency now trades at $7,930, and seemingly looks poised to plunge lower in the coming hours.<\/p>\n<p>https:\/\/twitter.com\/BitcoinEinstein\/status\/41042433<\/p>\n<h6 style=\"text-align: center\">Related Reading:\u00a0<a href=\"https:\/\/ktsl888.com\/2019\/11\/12\/bitcoin-fixes-this-top-bank-chief-says-monetary-policy-is-failing\/\" data-wpel-link=\"internal\">Bitcoin Fixes This: Top Bank Chief Says Monetary Policy is Failing<\/a><\/h6>\n<h2><strong>Bitcoin Looks Weak<\/strong><\/h2>\n<p><a href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/95051008\" rel=\"nofollow\">According to analyst Capo of Crypto<\/a>, this recent drop satisfies a fractal \u2014 historical price action repeated on a new time frame \u2014 that he has been tracking for a while now. Should the fractal play out in full as the trader expects, the price of bitcoin will fall to the low-$7,000s, potentially as low as $7,000, by the end of the week. This would mark a 13% or so drop from the current price point.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Almost confirmed. <a href=\"https:\/\/t.co\/PeDhTEpCzn\" rel=\"nofollow\">pic.twitter.com\/PeDhTEpCzn<\/a><\/p>\n<p>&mdash; il Capo Of Crypto (@CryptoCapo_) <a href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/95051008?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 21, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Indeed, the market does look weak. Per<a href=\"https:\/\/ktsl888.com\/2019\/11\/20\/bitcoin-prices-loses-7900-weekly-bull-market-cancelled\/\"> previous reports from this outlet<\/a>, Bitcoin closing the weekly candle under $7,900 could spell the end of the bull market. The Super Trend, \u201cwhich can give you precise buy or sell signal in a trending market\u201d by using moving averages and other simple technical indicators, suggests so.<\/p>\n<h6 style=\"text-align: center\">Related Reading:\u00a0<a href=\"https:\/\/ktsl888.com\/2019\/11\/18\/150000-to-300000-what-big-firms-are-targeting-for-long-term-bitcoin-predictions\/\" data-wpel-link=\"internal\">$150,000 to $300,000: What Big Firms are Targeting For Long Term Bitcoin Predictions<\/a><\/h6>\n<h2><strong>Bull Case Remains<\/strong><\/h2>\n<p>While this fresh drop is painful for bulls, as the key $8,000 support is in jeopardy, Amsterdam Stock Exchange trader Crypto Michael has noted that this drop may be par for the course for BTC. He noted in the below tweet that in 2016, Bitcoin saw a similar move &#8220;with a deep retrace.&#8221; BTC satisfying this fractal will require the asset to remain above $7,800 into the end of the year.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BITCOIN<\/a><\/p>\n<p>Market is fragile. <\/p>\n<p>But this is funny.<\/p>\n<p>In 2016 a similar push occurred with a deep retrace after to the 0.786-0.886 fib level.<\/p>\n<p>Would be nice to see a similar thing occurring now through which $7,800-7,900 would be important. <a href=\"https:\/\/t.co\/t7KIs0013D\" rel=\"nofollow\">pic.twitter.com\/t7KIs0013D<\/a><\/p>\n<p>&mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/61407233?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 21, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Sorry bulls, bears have won this time. As of the time of writing this, the price of Bitcoin (BTC) has just plunged below $8,000 after holding above that level for nearly a week. The cryptocurrency now trades at $7,930, and seemingly looks poised to plunge lower in the coming hours. https:\/\/twitter.com\/BitcoinEinstein\/status\/41042433 Related Reading:\u00a0Bitcoin Fixes This: Top Bank Chief Says Monetary Policy is Failing Bitcoin Looks Weak According to analyst Capo of Crypto, this recent drop satisfies a fractal \u2014 historical price action repeated on a new time frame \u2014 that he has been tracking for a while now. Should the fractal play out in full as the trader expects, the price of bitcoin will fall to the low-$7,000s, potentially as low as $7,000, by the end of the week. This would mark a 13% or so drop from the current price point. Almost confirmed. pic.twitter.com\/PeDhTEpCzn &mdash; il Capo Of Crypto (@CryptoCapo_) November 21, 2019 Indeed, the market does look weak. Per previous reports from this outlet, Bitcoin closing the weekly candle under $7,900 could spell the end of the bull market. The Super Trend, \u201cwhich can give you precise buy or sell signal in a trending market\u201d by using moving averages and other simple technical indicators, suggests so. Related Reading:\u00a0$150,000 to $300,000: What Big Firms are Targeting For Long Term Bitcoin Predictions Bull Case Remains While this fresh drop is painful for bulls, as the key $8,000 support is in jeopardy, Amsterdam Stock Exchange trader Crypto Michael has noted that this drop may be par for the course for BTC. He noted in the below tweet that in 2016, Bitcoin saw a similar move &#8220;with a deep retrace.&#8221; BTC satisfying this fractal will require the asset to remain above $7,800 into the end of the year. $BTC #BITCOIN Market is fragile. But this is funny. In 2016 a similar push occurred with a deep retrace after to the 0.786-0.886 fib level. Would be nice to see a similar thing occurring now through which $7,800-7,900 would be important. pic.twitter.com\/t7KIs0013D &mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) November 21, 2019 Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":405036,"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":[61967,428,2887,3504],"class_list":["post-405034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-61967","tag-bitcoin","tag-market","tag-price"],"acf":[],"yoast_head":"\n<title>Bitcoin Loses $8,000 After Week-Long Battle; Price on Edge of Cliff<\/title>\n<meta name=\"description\" content=\"Sorry bulls, bears have won this time. 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