Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Bitcoin Price Analysis, 7th May 2018: Bitcoin Prices Fall Below $9,500

written by

Bitcoin Price Analysis, 7th May 2018

Support free journalists: > send a tip

Today’s trading session didn’t prove to hold a positive outlook for traders in Bitcoin markets. While markets are continuing to experience above-average trading volumes, a bearish breakout was the deciding factor in the day’s price movements. It appears as though the sentiment that had Bitcoin traders hopeful of USD 10,000 levels is now being squashed down.

The day’s signals

  1. Bitcoin prices fell from USD 9,600 levels to USD 9,200 lows with a sudden selloff.
  2. Prices did not break below USD 9,200 following the crash, although upward movements weren’t received with particular positivity.
  3. Recent hours saw prices of Bitcoin climbing back up to USD 9,400 levels.

BITCOIN gdax-btcusd-May-08-2018-5-38-41

GDAX BTC/USD charts showcase the extent of today’s crash. Bitcoin entered a period of bearishness with taking consideration for the greater part of the trading session. The selling pressure remained persistent throughout the day’s span with all upward movements met with disdain. However, more recent hours have prices rising back to USD 9,400. Resistance levels didn’t go very low, but selling pressure is still present. Not to forget that volatility is still very much present in markets, as we saw prices fall down to USD 9,300 levels even after reaching USD 9,400.

OKEX BTC/USD weekly futures charts are putting up a different picture. Futures traders seem to still maintain some positivity for Bitcoin’s prices. Today’s bearish breakout did bring the difference between futures rates and live market prices to noticeably smaller levels. And still, futures continued to trade at a price level around USD 9,500. The day’s lowest rates for futures markets didn’t reach below USD 9,400 levels in spite of the volatility experienced through the day. The attitude of futures traders could be hinting a more hopeful outlook in spite of losses experienced.


*Follow on Twitter at*

*Telegram Alerts from at*

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter