Bitcoin is looking bearish on Wednesday as the price moved 3% lower after rejecting higher levels. The market bounced off the blue trendline and pushed through the 55 and 200 hourly moving averages. This all points to a very bearish picture on the intraday timeframes. The RSI has also dipped under the 50 mid-line to compound the misery but is in an oversold zone so there could be a short term bounce.
Ethereum price is trading in the red by 1.30% in the session on Wednesday.
ETH/USD trading conditions are very much narrow, as the price consolidates, risks remain tilted to the downside.
There is a lack of commitment being observed, given soft investor sentiment.
Litecoin price is trading in negative territory by -3.10 % in the session on Wednesday.
LTC/USD moving in narrowing nature, upside limited to $40, support noted at $37.
A flag structure remains present via the daily chart view, risk of a breakout to the downside.