RATE Group | Analysts Believe Bitcoin is on The Path to $7,600 As 2018 Bear Market Fractal Continues …
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Analysts Believe Bitcoin is on The Path to $7,600 As 2018 Bear Market Fractal Continues …

24 Jul Analysts Believe Bitcoin is on The Path to $7,600 As 2018 Bear Market Fractal Continues …

Posted at 03:59h in Bitcoin News by

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Bitcoin and the aggregated crypto markets have been facing a significant amount of pressure from sellers as of late, which has driven BTC’s price to below $10,000, putting the cryptocurrency’s recent bullishness in grave jeopardy.

Analysts are now noting that a similar fractal pattern to the one that occurred through the course of the 2018 bear market is currently unfolding, which could mean that BTC is heading towards $7,600 in the near-future.

Bitcoin Dips Below $10,000 as BTC’s Bears Incur Significant Strength 

At the time of writing, Bitcoin is trading down nearly 4% at its current price of $9,950, which is down significantly from its daily highs of nearly $10,400.

This bout of negative price action was first sparked last week when BTC sharply moved up to highs of $11,000 before being swiftly rejected and began plummeting towards its current price levels.

Importantly, this bearish price action signals that bulls, despite their attempt to push Bitcoin past $11,000, do not have…

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