Here’s Why An Analyst Is Eyeing a Bitcoin Drop Toward $9,750


Bitcoin sustained a strong drop on Thursday after peaking at $12,000 earlier this week. The leading cryptocurrency now trades for $10,300, having collapsed around 15% from the local highs. BTC closed its daily candle below pivotal support levels, a technical signal that does not bode well for bulls. While $10,000 has held for the time being, analysts think that at least one leg lower is likely. This final leg lower will take Bitcoin to at least $9,750, a number of traders have suggested. Bitcoin Could Drop Towards $9,750: Here’s Why Bitcoin underwent a decisive bounce at $10,000 after temporarily tapping and sliding below this level on Thursday evening and Friday morning. The leading cryptocurrency, as aforementioned, now trades $10,300 due to that bounce. According to one trader, the cryptocurrency is primed to see another leg lower towards the $9,755 range. This would mark another approximately 5% drop from current levels.…

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