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Analysts Anticipate Further Bitcoin Downside Despite Overnight Surge

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#1
After briefly dipping into the $7,000 region yesterday, Bitcoin (BTC) has once again been able to maintain this region as a strong level of support, as it has now climbed back to $8,100 during a strong move that followed its drop to lows of just under $7,900.

Analysts are now noting that bears are still in control of Bitcoin, which could point to the possibility that it will incur significantly further downwards pressure in the near-term before it is able to find absolute enough support to spark the next noteworthy uptrend.
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#2
(10-07-2019 11:02 PM)Baff1 Wrote: After briefly dipping into the $7,000 region yesterday, Bitcoin (BTC) has once again been able to maintain this region as a strong level of support, as it has now climbed back to $8,100 during a strong move that followed its drop to lows of just under $7,900.

Analysts are now noting that bears are still in control of Bitcoin, which could point to the possibility that it will incur significantly further downwards pressure in the near-term before it is able to find absolute enough support to spark the next noteworthy uptrend.
Reply


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