Bitcoin to Aim Below-$8,000 Zone Before Next Rally Kicks Off: Analysts

Bitcoin once again plummeted from its previous support level to $8,700 after the brief attempt by BTC for the bulls to fall to their short-term support level, apparently at a time of collapse then The resistance level overturned. This measure

Analysts believe that Bitcoin can soon set new multi-day lows, which leads to greater buying pressure.

Bitcoin Rejected at $8,700 as Bulls Fail to Garner Significant Strength

At the time of writing, Bitcoin is trading down approximately 1% at its current value of $8,540, marking a return of its daily maximum of around $8,700 set yesterday.

Yesterday's brief upward movement proved fleeting despite the apparent force in which the bull was built, and the inability to further boost cryptocurrencies could signal an underlying weakness that would have given the cryptocurrency its near value signature. He can ask you to take control. Action.

This recent price action also confirms that there is a strong level of cryptocurrency resistance of $ 8,700, which can continue to remain strong in the short term.

Livercon, a popular cryptocurrency analyst on Twitter, reported in a recent tweet. This resistance level move swept all reversed liquidity, which means that a short-term low for Bitcoin is imminent.

Will the next bullish movement occur when BTC taps $8,150?

Another popular crypto analyst on Twitter, Mene, offered a similar sentiment for LiverCoin. Stating that he believed Bitcoin would drop to $8,150 in the short term before it was a support. Hit the area that allows you to gain a greater advantage.

"$ BTC: slowly, the gray block that I have been observing for a few weeks is making its way to me. I started wishing too fast because there is no guarantee that we will really reach this level. They are, I can move on, etc., I like to overlap swing positions. There are 2 offers left, $ 8300 and $ 8150, "he explained.
The way in which Bitcoin reacts to these areas close to support in the next few hours will provide important information on where the cryptography is headed.