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Bitcoin, Ethereum & Litecoin - American Wrap: 12/16/19

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Bitcoin, Ethereum & Litecoin - American Wrap: 12/16/19

BTC/USD drops heavily by some 4% as $7000 firmly loses ground

  • Bitcoin price has come under heavy selling pressure in the latter stages of trading on Monday.
  • The bears attacked the psychological $7000 price mark, which gave way, likely triggering some stops to the downside. 

Ethereum technical analysis: ETH/USD bearish flag structure breakout allows sellers to capitalize

  • Ethereum price is trading in the red, down 0.15% the session on Monday. 
  • ETH/USD has fallen over $50 within the last six weeks of trading. 
  • The price runs the risk of the psychological $100 mark being tested to the downside. 

Litecoin Price Analysis: New wave low has been formed

  • Litecoin has made a new low on the chart below.
  • The price has not been this low since the first week of February  2018. 
  • On the weekly chart, the next support is 39.13 beyond that there is some at 36.11 and 34.38.

Image Sourced from Pixabay

 

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