Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BITCOIN NEWS»Bitcoin could fall below $38,000, analysts say.
BITCOIN NEWS

Bitcoin could fall below $38,000, analysts say.

By Crypto FlexsDecember 11, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin could fall below ,000, analysts say.
Share
Facebook Twitter LinkedIn Pinterest Email

Over the past 24 hours, cryptocurrency markets have witnessed Bitcoin solidifying its position in the digital finance space.

Amid expanding cryptocurrency selling, Bitcoin provided yet another example of its notorious volatility, plummeting into the $40,000 region.

The major cryptocurrency fell 8% to $41,900 before reversing some of its losses and opening Monday trading down 5% at $42,090.

Bitcoin Momentum Could Lose Steam

According to a price update from CoinGecko, Bitcoin has seen only minor fluctuations during this period, indicating that it is in an equilibrium phase after the recent price surge.

Subtle movements in the price of Bitcoin do not just mean a break, but an opportunity for market participants to evaluate the current situation.

Josh Olszewicz, a well-known cryptocurrency trader who goes by the name CarpeNoctom on

$BTC

bear case = 35.7k (daily Kijun)

SL’s long-term trading potential would be cautious at around 42.8k. pic.twitter.com/NqyLsJS9Nq

— Josh Olcevic (@CarpeNoctom) December 10, 2023

Based on his analysis of the daily baseline, a pivotal technical signal in the world of cryptocurrency trading, Olszewicz maintains a gloomy outlook.

An important medium-term trend indicator in cryptocurrency trading is the baseline, which is a component of the Ichimoku Cloud indicator.

By averaging the highest highs and lowest lows over 26 time periods, it helps traders determine support and resistance levels as well as the general direction of the trend.

Bitcoin slightly below the $42K level today. Chart: TradingView.com

Depending on whether the price is above or below the baseline, it can indicate a bullish or bearish trend.

When Koichi Hosoda created the Ichimoku Cloud in the late 1930s, the baseline was one of the key components.

Share this chart with your financial advisor (and the disclosures below).

Depending on your risk tolerance and investment objectives. #BitcoinEven small increments like 0.5%, 1.5%, 2.5%, or 3% have the potential to change the dynamics of the traditional 60/40. pic.twitter.com/mfLFsmD4LK

— Vaneck (@vaneck_us) December 10, 2023

Meanwhile, renowned asset management firm VanEck emphasized that Bitcoin (BTC)’s historical performance does not guarantee future results.

Are you facing a dark path ahead?

This caveat is important because VanEck is examining the possible effects of adding Bitcoin to an existing portfolio, testing a typical 60/40 investment approach.

Another cryptocurrency trader and analyst, Justin Bennett, issued a warning that Bitcoin (BTC) could reverse its upward trajectory after another surge.

Share this chart with your financial advisor (and the disclosures below).

Depending on your risk tolerance and investment objectives. #BitcoinEven small increments like 0.5%, 1.5%, 2.5%, or 3% have the potential to change the dynamics of the traditional 60/40. pic.twitter.com/mfLFsmD4LK

— Vaneck (@vaneck_us) December 10, 2023

Bennett tells his 110,600 social media followers that Bitcoin could rise one more time before a correction.

On the daily chart, the analyst provides a chart showing how Bitcoin is currently trading within a significant upward channel, with horizontal resistance in the pattern located around $48,000.

According to the trader’s chart, he appears to believe that Bitcoin will fall below $38,000 after reaching his upside target.

(The content of this site should not be construed as investment advice. Investing involves risk. When you invest, your capital is at risk.)

Featured image from Pixabay

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

JACK Mallers announced the Bitcoin sponsorship loan system at strike.

May 30, 2025

Bolivia Bans State Oil Company does not use encryption for energy settlement.

May 29, 2025

COINTELEGRAPH Bitcoin and Etherrium Blockchain News

May 28, 2025
Add A Comment

Comments are closed.

Recent Posts

Michael Saylor promotes Bitcoin as ‘perfect capital’. Emphasize the stock strategy in the Las Vegas speech.

May 30, 2025

Algorand (Algo) Eyes $ 0.31- But this says it’s not too fast.

May 30, 2025

Open Source AI: Mixed agent alignment innovates after training for LLM

May 30, 2025

Solana Rally Sol Token Lock and Memecoin Debline

May 30, 2025

Iguazio and NVIDIA collaborate to improve AI deployment with MLRUN and NIM.

May 30, 2025

Elon Musk Ditches Doge & Trump: Did the $ 0.50 of Dogecoin began again?

May 30, 2025

JACK Mallers announced the Bitcoin sponsorship loan system at strike.

May 30, 2025

Solana Rally Sol Token Lock and Memecoin Debline

May 30, 2025

HJB Miner aims to help millions of users benefit from cloud mining by 2025.

May 29, 2025

NVIDIA reports strong Q1 accounting 2026 results during export issues.

May 29, 2025

Bitcoin’s contraction fee can cause fallout of the entire encryption.

May 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Michael Saylor promotes Bitcoin as ‘perfect capital’. Emphasize the stock strategy in the Las Vegas speech.

May 30, 2025

Algorand (Algo) Eyes $ 0.31- But this says it’s not too fast.

May 30, 2025

Open Source AI: Mixed agent alignment innovates after training for LLM

May 30, 2025
Most Popular

The best staking platform for cryptocurrencies

September 11, 2024

The Role of iGaming Software Providers in Enhancing Player Experience

January 22, 2025

US President Biden vetoes resolution to overturn SEC guidelines

June 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.