{"id":393840,"date":"2019-08-21T13:46:28","date_gmt":"2019-08-21T13:46:28","guid":{"rendered":"https:\/\/uniquehot.com\/?p=393840"},"modified":"2019-08-21T13:46:28","modified_gmt":"2019-08-21T13:46:28","slug":"buyers-not-found-bitcoin-price-back-below-10000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/buyers-not-found-bitcoin-price-back-below-10000\/","title":{"rendered":"Buyers Not Found: Bitcoin Price Back Below $10,000"},"content":{"rendered":"
Following a strong rally back toward $11,000 that was stopped roughly $50 short, Bitcoin price<\/a> has now broken back below $10,000 yet another time during the month of August.<\/span><\/p>\n While Bitcoin price has been on a bull rally throughout most of 2019, bringing investors who bought the bottom over 300% returns at its peak, it\u2019s struggled to maintain that bullish momentum, and buyers may now be waiting to buy lower given how many times the crypto asset has tested support at $10,000.<\/span><\/p>\n Bitcoin price<\/a> has been ping-ponging between increasing lower peaks and increasingly higher troughs between the local high at $13,800 and a local low of $9200. The back and forth price movement has locked Bitcoin inside a symmetrical triangle, which can break in either direction.<\/span><\/p>\n Related Reading | Crypto Analyst: Recent BTC Struggle at $10,000 Similar to 2017 Run<\/a><\/strong><\/em><\/p>\n With the price of BTC approaching the bottom of the triangle support, it\u2019s in danger of dropping further. Bitcoin reached support at around $10,000 early this morning after an ascending wedge that had formed over the last week topped out and broke down, sending price below $10,000 where it is currently struggling to close an hourly candle back above.<\/span><\/p>\n Should Bitcoin break down further from here, the target of the symmetrical triangle would bring the price of the leading crypto asset by market cap to around $7,500, but would need to get through strong support at around $8,500 before the target is ever reached.<\/span><\/p>\n <\/a><\/p>\n Up until recently, most crypto investors believed that Bitcoin had embarked on an unstoppable bull run that would easily take the price of the crypto asset to $100,000 from here, potentially before the end of the year.<\/span><\/p>\n But that type of irrational thinking is what caused the 2017 crypto bubble to pop, and a deep correction ensued. And while everyone is certain Bitcoin bottomed back in December 2018, recent price action makes it clear that there just isn\u2019t sustained buying at prices over $10,000.<\/span><\/p>\n Related Reading | Historical Data Shows Crypto Correction Could Last 5 More Months<\/a><\/strong><\/em><\/p>\nBitcoin Price Falls Below $10,000 As Bears Take Control<\/span><\/h2>\n
404 Error: BTC Buyers Not Found<\/span><\/h2>\n