RATE Group | How Low Could Bitcoin Price Fall in This Pullback? Analysts Say $6,300
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How Low Could Bitcoin Price Fall in This Pullback? Analysts Say $6,300

30 Sep How Low Could Bitcoin Price Fall in This Pullback? Analysts Say $6,300

Posted at 08:15h in Cryptocurrency News by

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The bitcoin price (BTC) has dropped from $10,050 to $8,000 in the past week by nearly $2,000 against the US dollar, leading traders to anticipate a larger pullback to lower support levels.

According to traders and technical analysts like Josh Rager, the bitcoin price could drop to as low as $6,300 in the short term if the pullback intensifies to a region where large buy demand exists.

The bitcoin price (BTC) has been struggling to recover after dropping to $7,700 (source: coinmarketcap.com)

Rager said:

“Have been asked how far can BTC drop IMO, the lowest BTC will hit: between $6300 to $6600 where there is major interest Price currently bounced off monthly support & if this area breaks could head to $6600 – based on higher time frames.”

While calls for a retest of even lower support levels in the $3,000 to $4,000 have emerged as BTC dropped to $7,700 over the weekend, a 70 percent correction from the yearly high is highly unlikely to happen, especially given the abundance of…

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