Bitcoin at "do-or-die support" if breakdown occurs $8.8k could be next

15 Jul, 2019 | Updated: 15 Jul, 2019
by Will Heasman
Bitcoin at do-or-die support if breakdown occurs $8.8k could be next

The last few days haven’t been great for Bitcoin, and while holding above five figures can be seen as a relative triumph, right now many investors fear the worst; just moments ago Bitcoin dumped around $400, and according to one analyst it’s do or die time for Bitcoin.

Currently, bitcoin is trading at around $10,177, after plummeting $400 in the space of a few seconds

BTC/USD Chart provided by Tradingview 

Analyst Josh Rager noted the dump, suggesting that it was typical for Bitcoin to either pump or dump around a close. The analyst added that this dump indicated a fairly bearish week ahead for BTC.

Bleeding Crypto shared a similar sentiment, relaying that BTC may be in for some more pain unless the bulls pulled off some sort of miracle. In a previous tweet the analyst relayed that $9.2k was potential support for BTC:

Josh Olszewicz noted that Bitcoin was at a “do or die” level of support around 11.2k a level which has subsequently fallen through, the analyst noted that a breakdown could lead BTC to $8.8k:

What do you think? Are we headed into four figures once again? Or will bitcoin continue to hold? Let us know your thoughts in the comments below!

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