The number one cryptocurrency has taken a 15.5% nosedive over the past four days, dropping from a high of $39,850 to a low of $36,665.
25 low of $32,850 could serve as a support zone, so only a sustained breach of this level would confirm the pessimistic outlook.
Ethereum has also seen its price drop by more than 15.5% over the past four days, losing over 500 points in market value.
The formation of a symmetrical triangle on Ethereum’s three-day chart suggests that a break of the $2,500 support level could lead to a 64.7% downswing.
Bitcoin would have to reclaim $38,000 for a chance to make higher highs, while Ethereum would need to slice through the $3,270 resistance level to stage a bullish breakout.
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