THELOGICALINDIAN - Bitcoin bears reentered the exchange on Saturday as prices confused afterpiece to a multiweek low to alpha the weekend BTC already afresh fell beneath 29000 whilst ETH continues to move lower and now hovers about 1750
Bitcoin
Following a abrupt backlash on Friday, BTC already afresh confused lower, with prices falling beneath the $29,000 mark to alpha the weekend.
Yesterday saw BTC/USD hit an intraday aiguille of $29,335.03, about with bears re-entering the market, prices fell to a low of $28,326.61 beforehand today.
Today’s move sees bitcoin abatement beneath its accepted abutment akin of $28,800, and advance amount afterpiece to a 16-day low beneath $27,700.
Overall, BTC is bottomward over 1% in the aftermost seven days, with markets mainly accumulation during that period.
Many now accept that afterwards bearish stints in April and May, we ability accept apparent the affliction of the affairs in crypto, with a abeyant for a slight backlash in June.
The 14-day RSI is currently tracking at a attic of 35. Should this breach we could see some added bottomward declines until beasts adjudge to absolutely anamnesis the bazaar sentiment.
Ethereum
ETH alone for a fourth after session, as bears banned to accord way to any admission bulls, who attempted to balance prices.
So far on Saturday, ETH has alone to a low of $1,721.26, which is its weakest point back May 12, and comes as yet addition attic is broken.
Despite contempo declines, it appeared as admitting the $1,750 akin on ETH/USD was acting as a abutment point, about that attic was activated beforehand today.
Although it bootless the antecedent test, we accept apparent somewhat of a action back, with prices now trading at $1,776.19.
Overall, ETH is now bottomward abutting to 10% in the aftermost seven days, with some assured moves appear $1,600 in the abutting few weeks.
Will June be addition bearish ages for crypto? Leave your thoughts in the comments below.
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