Bitcoin Price Slips Below $10,000. Is This a Bear Trap?

article image

After testing the waters in the sub-$10,000 region, Bitcoin failed to stage a breakout. According to CoinMarketCap data, its price is once again in the four-digit territory at $9,753.15.

This three percent drop could signal more pain for the bulls given that the BTC price plunged below its weekly resistance level. Hence, Bitcoin trading at the $8,000 level is now not that far-fetched scenario.

However, according to trading expert ‘The Crypto Dog,’ this downturn could only be a ‘distraction’ before skyrocketing all the way to $11,500.

Cover image via

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

article writer image
Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings