Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop
Bitcoin faced a strong drop into Friday. The cryptocurrency, after peaking at $40,000, fell as low as $34,000 in a flash drop on Friday morning. The drop was odd because the cryptocurrency was strongly underperforming altcoins. Normally, during Bitcoin corrections, altcoins fall against the U.S. dollar and against BTC, though this was not the case. […]
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Bitcoin has dropped dramatically since the $15,975 highs seen earlier this week, falling as low as $14,300. The coin currently trades for $15,000 after a strong bounce. Analysts see this as bullish as the low-$14,000s held as support. Though, an analyst expects $14,000 to soon be tested by the leading cryptocurrency. The analyst shared a fractal showing that the recent price action now looks similar to that seen in the 2017 rally. Bitcoin Could Soon […]
The Dogecoin price has recently exhibited a classic bull flag pattern on its price chart, a technical indicator often signaling continued upward momentum. The Dogecoin price has mostly traded below $0.4 in the past seven days on the back of a continued price consolidation. At the time of writing, Dogecoin is trading at $0.39, sitting firmly within the consolidation phase of this bull flag pattern. KrissPax Identifies Key Target For Dogecoin Price This development of a bull flag pattern was highlighted on the social media platform X by crypto analyst KrissPax, which relays to the current....
An analyst from the biotech consulting group Biotechvalley Insights believes after bitcoin lost 53% from the crypto asset’s all-time high, “the party is clearly over.” The biotech consulting group analyst thinks crypto investors will witness a slow “grind down the slope of hope with a periodic dead cat bounce” and expects prices to drop to $15,000 in the next few weeks. **Editor’s note: This article was updated at 4:55 p.m. (EST) to reflect a comment from a Bitcoin.com News reader who commented on the Biotechvalley Insights’ analyst’s....
Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020. Related Reading:....
Crypto analyst Altcoin Sherpa recently suggested that the Bitcoin bottom isn’t yet in and that the flagship crypto could still drop to new lows. Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000. He noted that this would mean a “few more nasty wicks, a few more liquidations, and....