Bitcoin Crashes Through $8,000
Bitcoin has been on the back foot today as price has crashed through the all-important $8,000 level.
Rowan Crosby•Tuesday, June 4, 2019•1 min read
Bitcoin has been on the back foot today as price has crashed through the all-important $8,000 level.
While there is no fundamental news for the move, there has been an uptick in trading volumes over the last 24-hours.
BTC had previously struggled to push through $9,000 and the last time it tested the $8,000 support it bounced sharply.
That looks like it is in some trouble given that price has fallen $7-800 in the last few hours.
For me, this current level was always the big inflection point. If price continues to consolidate below, then we are looking at a potential further sell-off here. The next 24 hours will be important for BTC.
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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