Bitcoin price could drop below $60,000 before next leg up as technicals underscore bearish sentiment. Ethereum price brews a recovery, but bearish sentiment in the market will not let it. Ripple price could revisit the previous lows of $0.4188 as overhead pressure continues to grow. Bitcoin has shown the weak hand of bulls, with the sentiment spilling over into altcoins. Specifically, a similar gloom is seen on Ethereum price and Ripple price.
Bitcoin price tests bull market support one too many times Bitcoin price has dipped into the demand zone between $60,364 and $62,412 for the umpteenth time since February. This time, however, it has slipped below its mean threshold at $61,421. Traders should watch the aforementioned level, because a candlestick close below it would confirm the continuation of the downtrend.
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