A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
Bitcoin price has been heading south lately, but this has allowed a select few altcoins to go wild. Ethereum and Ripple do not seem to be on this list and are likely going to take more time before they trigger a bull rally.
Ethereum price is at the time of writing, trading at $3,040 and retesting a key level on the 4-hour chart. Last Thursday, FXStreet analysts made the call to expect a dip into the current price level as Ethereum price displayed multiple sell signals. The bearish thesis also mentioned a possibility for extended targets at $2,987 and $2,930 to get breached.
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