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Bitcoin $BTC Forecast: Tuesday Edition: New 2018 Lows in Sight

August 14 2018 18:24 UTC

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This edition features popular Bitcoin $BTC technical analyses from @NewsBTC, @bitcoinsguide and @Coindesk. Or jump right to today’s Bitcoin $BTC Forecast.

@NewsBTC Analysis

View: bearish

bearish

Aayush Jindal of @NewsBTC expresses "bitcoin is under a lot of pressure below $6,300. Should buyers fail to push the price back above $6,200 and $6,300, there may well be more losses towards the $5,700 and $5,500 levels"

@bitcoinsguide Analysis

View: bearish

bearish

Azeez M of @bitcoinsguide contemplates "If the price of Bitcoin is broken it will become weaker as price may likely fall to the next previous low of $5,500 [and] the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicate that a bearish trend is ongoing"

@Coindesk Analysis

View: bearish

bearish

Omkar Godbole of @Coindesk pronounces "Down two-thirds from its December all-time high of $20,000, bitcoin (BTC) now risks printing fresh 2018 lows below $5,755 [and] BTC could hit fresh yearly lows below $5,755 (June low) this week "

Bitcoin $BTC Forecast

on Tuesday August 14 2018 18:24 UTC

bearishbearishbearish

The crypto pundits say: “bearish/bearish/bearish/”.

All three experts weigh in bearish today. Possibly the best news is that support is seen not far away, although the longer term prognosis of one expert is bleak.

Omkar Godbole points out that $BTC is one of the better performing coins of the top 100, as investors shred their alt portfolios and move into bitcoin. Many alts suffered double digit losses overnight, according to CoinMarketCap. TenX recorded a 8.78% upwards jump – it was exceptional as the altcoin market plummets. Even Ethereum took a -11.76% hit to $257.63 on a volume of $2,012,367,517 in twenty-four hours.

With the bears firmly in control, and emboldened by the successful descent, look for more downwards pressure and new 2018 lows.

Also Popular

Today’s $BTC Metrics
Bitcoin Market Report: $BTC Crashes to Quarterly Low


[legal disclaimer] Just one news report can invalidate a technical analysis.

Disclosure

The author holds Bitcoin $BTC at the time of writing.

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