Bitcoin falls as crypto future looks uncertain

There was little volatility in BTC price over the weekend, which traded sideways, testing the resistance at $43,000. On Monday, the BTC price fell as low as $41,500. If the price of Bitcoin goes up, it may find further resistance at $44,300, while support may be found at the $41,000 level and further down at $40,000. Similarly, Ethereum traded a little over its 3,220 resistance over the weekend, but fell to $3,130 on Monday. In case its price goes up, it may find resistance around $3,400, while the psychological level of $3,000 may provide support if it falls.

At the moment the future trend of most major cryptocurrencies looks uncertain, with investors arguing over the trend that is going to prevail in the crypto market in the coming days. An overall increased risk-appetite favours cryptos. On the other hand, the Fed’s hawkish attitude makes traders more hesitant to invest in cryptocurrencies, while their price remains relatively high.

US indicators and economic data that are scheduled to be released today may also affect cryptocurrencies. Especially important is the US Empire State Manufacturing Index, which reflects economic health and future economic activity.

BTC/USD 1h Chart

ETH/USD 1h Chart

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Written by:
Myrsini Giannouli

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