RATE Group | BTCUSD Could Retest 2018’s Low
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BTCUSD Could Retest 2018’s Low

11 Aug BTCUSD Could Retest 2018’s Low

Posted at 19:30h in Bitcoin News by

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Ripple price

The first time we saw a bear beating the hell out of somebody was in the Revenant. Then, it happened in February when bears attack knocked Bitcoin down from the $19,000-highs to the early $6,000-lows. A few months later, in June, Bitcoin revisited its previous yearly low and eventually broke it to establish a new one near 5756-fiat. And now, at the time of this writing, the digital currency is once again close to testing them both – thanks to an extended bearish run since bimonthly peak near $8,512.

Bitcoin this week has dropped 16 percent against the US Dollar already. That is more than $1,000 in a week. The bear dominance got catalyzed only after the SEC delayed its announcement for a possible Bitcoin ETF. As a result, the BTC/USD has broken one key support level after another, eventually dropping to early 6000s and now eyeing 5756-fiat should the bearish bias remain. Let’s have a look at our technical analysis to get a clear picture.

BTCUSD Technical Analysis

Despite…

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