If Bitcoin Fails to Close Above $8,000, BTC May Plummet Lower During Week Ahead5

Bitcoin (BTC) and the aggregated crypto markets have been facing a bout of sideways trading over the past couple of days, oscillating between the mid-$7,500 region and the lower-$8,000 region for the past several days.

Although the sideways price action could simply be a pattern of consolidation that ultimately leads to an extension of upwards momentum, one analyst is now noting that a failure to close above $8,000 today could lead to a continuation of its downwards momentum for the week ahead.

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