RATE Group | Crypto Shock: Analyst Says Traders Should Buckle Up As Bitcoin, Ethereum and XRP Markets…
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Crypto Shock: Analyst Says Traders Should Buckle Up As Bitcoin, Ethereum and XRP Markets…

24 Oct Crypto Shock: Analyst Says Traders Should Buckle Up As Bitcoin, Ethereum and XRP Markets…

Posted at 03:17h in Ethereum News by

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A sharp drop in the price of Bitcoin is sending shockwaves throughout the crypto markets.

The top three cryptocurrencies by market cap – Bitcoin, Ethereum and XRP – lost a collective $16.3 billion in market cap in the span of about an hour and a half.

The aftermath has pushed every coin in the top 10 into the red, with many facing double-digit losses.

Source: COIN360

Analyst Josh Rager says traders should gear up for more losses. He’s outlining the next level of support at $7,200.

“If buyers weren’t interested in $7,800 Bitcoin, they’re likely not interested in $7,500 prices.

It likely goes lower with confluence support at $7,200 and below.

Even after a natural bounce there, it comes down to where large and agressive buyers are interested. Take it level by level.”

A fellow analyst known in the industry as Mr. Anderson is tracking Bitcoin’s time-weighted average price along with its exponential moving average.

He’s outlining $7,100 as a key number…

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