Bitcoin has made a lower high on the 4-hour chart after rejecting the 55 EMA on the daily timeframe. Zooming in on the 4-hour now the lower high that was created and it stopped exactly on the 61.8% Fibonacci retracement. Now tracking the projections lower, the extension of 161.8% confluences with the 61.8% of the larger wave in blue. This makes the zone very strong and the probability of the target being tested is now higher.
Ethereum price is trading in the red by 3.35% in the session on Monday.
ETH/USD is back under pressure by the bears, with the critical $150 at risk of a breach.
The next major area of interest to the upside for the bulls will be eyed at $200.
Litecoin price is trading in negative territory by 0.30 % in the session on Monday.
LTC/USD has lost upside momentum over the last five sessions.
The bulls failed to break down the supply in a run into the $50 mark, inviting more downside pressure.
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