Bitcoin refreshes the lows under $8,000 after breaking from the falling wedge pattern. Ethereum tests $170 but bulls barricade the zone leading to a reversal above $172. The crypto market is back in the red with the majority of cryptocurrencies erasing the progress made during the Asian period. Most analysts have remained bearish especially for Bitcoin and believe that a bottom is yet to found. This means that the downtrend momentum is likely to stay intact across the crypto market. Bitcoin price updated As reported, Bitcoin dived under $8,000, in turn, pulling the majority cryptocurrencies down with it. BTC/USD is trying to hold above $7,800 as a drop below the same level could refresh the lows around $7,300. The technical picture remains to be largely bearish especially with the RSI diving under 30. Moreover, the widening gap between the 50 SMA on the 4-hour chart and the 200 SMA suggests that a stronger bearish grip will take center stage. BTC/USD 4-hour chart Ethereum price update Ethereum continues to explore how deep the rabbit hole goes within a descending channel. The declines on the day seem to have found support at $170. Ethereum has adjusted to $172 while the upside is limited by the 50 SMA on the 1-hour chart at $175 and the 100 SMA at $178. ETH/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/INR Technical Analysis: Consolidates above 38.2% Fibo., 71.65-60 pivotal support FX Street 3 years Bitcoin refreshes the lows under $8,000 after breaking from the falling wedge pattern. Ethereum tests $170 but bulls barricade the zone leading to a reversal above $172. The crypto market is back in the red with the majority of cryptocurrencies erasing the progress made during the Asian period. Most analysts have remained bearish especially for Bitcoin and believe that a bottom is yet to found. This means that the downtrend momentum is likely to stay intact across the crypto market. Bitcoin price updated As reported, Bitcoin dived under $8,000, in turn, pulling the majority cryptocurrencies down with it. BTC/USD is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
