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The bitcoin price has further declined and traded to a new 2018 low below $ 3,700. Subsequently, BTC / USD rebounded, but the upside was limited to around $ 3,900. The pair hit the intra-day / 2018 daily minimum of $ 3672.08, but the rebound saw the pair succeed in holding the fort more than $ 3800. The current price action is positive as long as the price exceeds $ 3800 level, however, there is a high resistance level for the pair around $ 3950 to $ 4000. A convincing break above the $ 4000 barrier is necessary for buyers who take control in the short term. Otherwise, there is a risk of a new fall below $ 3,800 and $ 3,700 in the short term.
Legacy Crypto & # 39; s follows the price model of BTC that falls steeply in the early hours of the market and recovery of the scenes in half
Overall, the bitcoin rebounded well after trading at a new 2018 low at $ 3.687, but BTC must overcome the barrier of $ 4,000 for steady gains. Likewise, the price of Ethereum also declined sharply and resumed during today's trading session and is now facing a major obstacle. Legacy cryptocurrencies continue to show signs of being taken on the bear market, which have led analysts and traders to formulate conflicting opinions. While few expect this decline to continue throughout the first quarter of 2019, others believe that the bulls will return at the start of next year due to the optimism anchored in the hopes of an increase in institutional investments affecting the market. encrypted in coffers and the possible approval and debut of bitcoin futures in the NASDAQ.
The price of Ethereum seems to move towards double digits while the key support at $ 100 occurs. An important trend line for bears is set at a resistance close to $ 105 and if the sales pressure remains high, Ethereum will probably come down today. below $ 100. The price of Ethereum simply can not free itself from its risky situation, given that the market has seen various updates highlight the weakness of coin time and again paint a difficult picture for the future of Ethereum. The price is sinking but the Ethereum is getting ready for the technology front that could serve as bailouts for the long-term couple. The ETHUSD pair is currently trading at $ 100.17, down 7.5% on the day.
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