RATE Group | Bitcoin Price ‘Ranging’ Continues as Trader Says $8,400 Could Be Next
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Bitcoin Price ‘Ranging’ Continues as Trader Says $8,400 Could Be Next

12 Nov Bitcoin Price ‘Ranging’ Continues as Trader Says $8,400 Could Be Next

Posted at 16:48h in Bitcoin News by

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Bitcoin (BTC) was struggling to recapture $8,800 on Nov. 12 after selling pressure sent the largest cryptocurrency broadly lower late on Monday.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

Bitcoin fails to gain momentum to break $9K

Data from Coin360 showed BTC/USD trading between $8,700 and $8,800 on Tuesday morning, having fallen to local lows of $8,630 in the past 24 hours. 

Despite volatility waning in recent days, Bitcoin remained broadly lower as the week began, losing support at $9,000.

Bitcoin seven-day price chart

Bitcoin seven-day price chart. Source: Coin360

Having exited its previous trading range, Bitcoin was now laying the foundations for further downside, analysts said. 

In his most recent Twitter update, regular Cointelegraph contributor Michaël van de Poppe eyed the potential for BTC/USD to fall to around $8,400. 

“Could continue the ranging here. For bulls; break back above $9,050 required,” he summarized.

Van de Poppe added that current price behavior signified a tussle between bull…

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