{"id":14905,"date":"2022-11-28T14:01:09","date_gmt":"2022-11-28T14:01:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-start-week-lower-as-bearish-sentiment-returns-to-markets-market-updates-bitcoin-news\/"},"modified":"2022-11-28T14:01:09","modified_gmt":"2022-11-28T14:01:09","slug":"btc-eth-start-week-lower-as-bearish-sentiment-returns-to-markets-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-start-week-lower-as-bearish-sentiment-returns-to-markets-market-updates-bitcoin-news\/","title":{"rendered":"BTC, ETH Start Week Lower as Bearish Sentiment Returns to Markets \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin fell to a six-day low to start the week, as the token moved closer to the $16,000 level. The drop sees prices fall for a fifth straight session, with overall sentiment in the cryptocurrency market turning bearish. Ethereum was once again trading below $1,200, after trading above this point in recent days.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) fell for a fifth straight session on Monday, as the token moved closer to a breakout below $16,000.<\/p>\n

BTC<\/a>\/USD slipped to an intraday low of $16,086.36 to start the week, which comes less than 24 hours after hitting a peak of $16,594.41.<\/p>\n

As a result of today\u2019s drop, bitcoin moved to its lowest point since last Tuesday, November 22, when price was at a low of $15,613.<\/p>\n

\"Bitcoin,
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, Monday\u2019s sell-off intensified once a breakout on the relative strength index (RSI) occurred.<\/p>\n

The index, which is currently tracking at 36.89, moved below a recent support point of 38.00, and looks to be heading for a lower floor at 35.50.<\/p>\n

Should price strength reach its perceived destination, This will likely lead to BTC<\/a> falling below $16,000.<\/p>\n

Ethereum<\/h2>\n

In addition to BTC<\/a>, ethereum (ETH<\/a>) also moved lower to start the week, with prices once again moving under $1,200.<\/p>\n

Following a high of $1,218.51 on Sunday, the world\u2019s second largest cryptocurrency dropped to a low of $1,162.19 earlier today.<\/p>\n

The decline pushed ETH<\/a>\/USD below a key support point of $1,180, and came as the RSI failed to break out of a long-term resistance level.<\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, price strength was unable to fully move beyond a ceiling of 43.00, and is currently tracking at 40.62.<\/p>\n

In addition to this, the 10-day (red) moving average has shifted direction, with momentum once again downward facing.<\/p>\n

Overall, a target of $1,070 appeared to be a likely destination for bears, should momentum continue to decline.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Will ethereum start December above or below $1,200? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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