Bitcoin price due for break below $30K trader warns after 9% daily loss
June 8, 2021. Summarized by summa-bot.
Compression ratio: 32.7%. 1 min read.
Bitcoin price action is below key moving averages and targeting "sub $30,000," warn analysts.
Bitcoin (BTC) traded worryingly near $30,000 support on June 8 amid fresh predictions of incoming lows.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair lost 9% overnight on Monday.
As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages which could spell further downside.
“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.