After the problems presented on Saturday, with the loss of the hash power of 49%, which led to a fall of $ 10,000, on Monday night Bitcoin fell back to $ 53,800.
This led to another very red day for altcoins. Some with up to almost 20% retracement. And I wonder: Is the change in trend beginning? Although in macro the trend is still upward, in time periods of 4h and 1h the perspective is already different.
Let's see what will happen in my new analysis for Cryptocurrency.
We see how BTC at 4H has broken the bearish channel it was carrying. The bulls are struggling (as of this writing) to stay at $ 55,000, which has been the support level since Saturday's crash.
Bulls trying to go for $ 57,500 without success. The bears in full control of the situation holding the price at $ 55,000 and pushing hard could take you between $ 53,000-50,000.
If they succeed, we can easily see $ 50,000 lose, and go for $ 44,700.
Ethereum like Bitcoin has encountered difficulties these days, but not as many as BTC because it has managed to hold $ 2,150, which was strongly established as its main support.
Although all day Monday the bears held the ETH below this price, the bulls took control at the beginning of this Tuesday and have managed to take it to that level.
Bulls will seek to bring Ethereum between $ 2,200-2,300. The bears, for their part, feel confident and want to bring ETH between $ 2,000-1,890.
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Analysis by analyst César Quintero for Cryptocurrency