Yesterday ended with Bitcoin making a strong move towards support near the lower boundary of the broadening trading channel. The biggest digital asset by market capitalisation broke below local resistance at $55,000 and at some point reached close to $53,500. At the current stage, the bulls have picked themselves up a bit and reached the $54,000–$55,000 range.
Ethereum continues to copy Bitcoin’s moves. The first cryptocurrency’s recent collapse caused the largest altcoin to return to support around $4,000. Right now, ETH has gained some ground, but when BTC fails to break higher and the initiative is back in the hands of the bears, I expect the biggest altcoin to follow.
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