Bitcoin drops to 6-day low, Because the token approached the $16,000 level. The drop sent the price down five times in a row, making the overall sentiment of the cryptocurrency market bearish. After trading above this point for the past few days, Ethereum has again broken below $1,200.
Bitcoin
Bitcoin (BTC) Breakout on Monday as Tokens Fall Below His $16,000 for His Fifth Straight Drop approached.
BTC/USD hit an intraday low of $16,086.36 earlier in the week less than 24 hours after peaking at $16,594.41.
As a result of today’s decline, Bitcoin has moved to its lowest since Tuesday, November 22, when the price hit a low of $15,613.
Looking at the chart, Monday sell is a breakout of relative strength After the intensified index (RSI) occurred.
The index, which is currently tracking 36.89, appears to be heading for the lower floor of 35.50, breaking below the recent support point of 38.00.
This could push BTC below $16,000 if price strength hits a perceived destination.
Ethereum
BTC In addition to, Ethereum (ETH) also fell It has broken below $1,200 again.
After Sunday’s high of $1,218.51, the world’s second-largest cryptocurrency fell to a low of $1,162.19 today.
The drop occurred as ETH/USD broke below its key support point of $1,180 and the RSI failed to break out of the long-term resistance level.
chart, price strength peaked at 43.00, currently Tracking at 40.62.
In addition to this, the 10-day (red) moving average changed direction and the momentum turned downwards again.
Overall, the $1,070 target seems likely to be a bearish destination if momentum continues to fade.
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