Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Selling Intensifies, Crypto Bull Run On Hold

Cryptocurrencies across the board are nursing wounds led by the flagship digital asset, BitcoinRecovery from the mid-week declines is an uphill battle for the bulls. Investors are jittery and wondering if this could be the end of the bull run.

As discussed before, some analysts believe that Bitcoin is targeting support of $13,000 before a significant reversal comes into the picture. In other words, Bitcoin is not done with the downside, especially now that it is back to trading under $18,000.

The altcoin correlation to the bellwether cryptocurrency is still substantial; thus, we can expect most of the digital assets to fall if Bitcoin plummets. For now, bears have the upper hand even as the weekend is ushered in.

Cryptocurrency, Asset, Electronic Payment, Payment

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Bitcoin declines seem unstoppable to $16,000

The king of cryptocurrencies appears to be trying its luck on securing support at two crucial levels; the descending parallel channel's lower boundary and the 200 Simple Moving Average. This comes after BTC was rejected at $18,500 and closed the day under $18,000.

Massive sell orders are expected to be triggered if Bitcoin breaks under the levels mentioned above. Sharp declines will come into play, adding credibility to the bearish outlook targeting $16,000.

The Relative Strength Index adds credence to the depleting technical picture. Therefore, the least resistance path is downwards. On the other hand, sellers could explore the downside some more because Bitcoin is not yet oversold.

(Click on image to enlarge)

BTC/USD 4-hour chart

BTC/USD 4-hour chart

It is worth mentioning that BTC/USD will resume the uptrend if support at the 200 SMA holds firmly. Closing the day above, $18,000 may save buyers from an extended breakdown to $16 and probably set Bitcoin on a pathway to $19,000.

Ethereum downside eyes $480 as overhead pressure increases

Ether, like Bitcoin, is depending on the ability of the 200 SMA on the 4-hour chart to hold. If it fails, the ongoing retreat might stretch as far as $480. Note that buyer congestion at $530 prevented Ethereum from falling further earlier this week.

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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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