[ad_1]
Analysis and Charts of Bitcoin (BTC / USD), Ethereum (ETH / USD) and Alt-Coin:
The cryptocurrency market ends the week in the red after surrendering all of its previous gains. A series of alternative coins are posting double digit losses and the general market tone has turned from excited to calm in recent weeks. The reaction to any positive news, or tweet, is now more subdued than before and the market seems poised to fade even more. All eyes are now on recent support levels to see if they hold up otherwise the bears will continue to push the market lower. Buyers don’t have to rush to the market.
Bitcoin (BTC / USD) continues to decline after encountering resistance of just under $ 42,000 earlier in the week. We have been looking at a resistance zone between $ 42,000 and $ 43.5,000 for the past few weeks and this held up on its first attempt. A short-term basic ascending channel has been built over the past 10 days and support for the channel is now increasing the pressure, leaving Bitcoin vulnerable to further losses. Support levels around $ 35,000 and $ 32.5,000 before $ 31,000 and the important $ 30,000. As always, the thinning markets over the weekend leave the cryptocurrency market vulnerable to sudden moves.
Bitcoin Daily Price Chart (BTC / USD)
The second largest cryptocurrency by market cap continues to decline, hitting new lower highs along the way. ETH / USD is on the verge of a three-week low and all the excitement seen in the coin from late last year to its peak at just under $ 4,400 is now gone. The May 30 swing-low around $ 2,180 is now under pressure with a confirmed breakout leading the way to $ 2,000 or potentially less.
Ethereum / Bitcoin Daily Price Table (ETH / BTC)
Crypto from A to Z: demystifying cryptocurrency jargon
Traders of all skill levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Center.
What’s your take on Bitcoin (BTC), Ethereum (ETH) – bullish or bearish? You can let us know via the form at the end of this article or you can contact the author via Twitter @ nickcawley1.
element inside the element. This is probably not what you wanted to do! N n Instead, load your applications JavaScript bundle into the element.
[ad_2]
picture credit