{"id":394325,"date":"2019-08-27T10:00:18","date_gmt":"2019-08-27T10:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=394325"},"modified":"2019-08-27T08:25:11","modified_gmt":"2019-08-27T08:25:11","slug":"analysts-turn-bearish-on-bitcoin-as-crypto-markets-run-red","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analysts-turn-bearish-on-bitcoin-as-crypto-markets-run-red\/","title":{"rendered":"Analysts Turn Bearish On Bitcoin As Crypto Markets Run Red"},"content":{"rendered":"

Bitcoin has remained above five figures for another day, but only just. As the red seeps in to crypto markets, analysts are leaning bearish with further losses predicted before any meaningful upsides.<\/p>\n

Bitcoin Slides Towards Four Figures<\/h2>\n

Following a couple of visits to $10,400 yesterday and a generally positive start to the week, Bitcoin is on the back foot again<\/a>. A couple of recent candles during the Asian trading session have dropped prices back to $10,100 as another dip back into four figures is looming.<\/p>\n

\"bitcoin\"<\/a>
BTC price 1 hour chart – Tradingview.com<\/figcaption><\/figure>\n

Zooming out reveals that the market chop has simply continued and more consolidation is likely<\/a>. Some analysts are eyeing short term losses before long term gains. Trader and analyst \u2018CryptoFibonacci\u2019 has identified a large bullish pennant forming on the day chart which may run for another two months.<\/p>\n

\u201cA very nice Bullish pennant. Do I buy in here? Depending on your timeframe, you sure can. Unless you have over $20,000, is it gonna make your day or make you a millionaire? No, it won’t. So, just get that thought out of your mind. It is my view that until this closes below 9,000 that we go higher.\u201d<\/p><\/blockquote>\n

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Ok, so I see a lot of "Noise" on Twitter and everybody wanting to make their "calls". Well, here is mine.$BTC<\/a> Daily "Line" Chart. A very nice Bullish pennant. Do I buy in here? Depending on your timeframe, you sure can. Unless you have over $20,000, is it gonna make your<\/p>\n

— CryptoFibonacci (@CryptoFib) August 27, 2019<\/a><\/p><\/blockquote>\n