Market Crash! ETH to $1,075 and BTC to $20k?

 

• Ethereum (ETHUSD) Daily Chart

ETH has come into a very critical level of support, and it's not looking good as the more time spent here means the probability is increasing that the price will break down. 

If there is a break down here, our next level to watch is the $1,400 support. If $1,400 fails to bounce the price significantly, then ETH could easily revisit the $1,075 level.

•  Bitcoin (BTCUSDT) Daily Chart

Yesterday, we saw BTC get rejected at the daily 200 Moving Average, around $27,500. Price dropped quickly, retracing all the way down to $25,660, as the bears took control!

With not much buying pressure coming into the market, BTC looks very weak. Currently, the $26,000 level is holding as support. If the bulls do not recapture higher levels soon, I see further downside, possibly to test the $24,000 area, or an even deeper retrace to the $20,000 - $22,000 area.