Bitcoin price correction from $42,000 underway, with losses eying $38,000 and $36,000.
Cardano looks bullish after holding above the 50 SMA.
The new week seems to have commenced on a bearish note, with cryptocurrencies posting considerable single-digit losses. Bitcoin price had lifted above $42,000 over the weekend, but the uptrend was short-lived. At the time of writing, the bellwether cryptocurrency is back to trading under $40,000.
Most altcoins are also in red, starting with Ethereum’s 2.8% loss. As reported earlier, the pioneer smart contract token must reclaim support above $2,600 to sustain the uptrend. Moreover, Ether has a massive bullish outlook, especially with the upcoming London hard fork.
Bitcoin:-
Following the retreat from highs marginally above $42,000, BTC descended and shattered support at $40,000. Bears seem to be entirely in control, with Bitcoin trading at $39,830.
The 50 Simple Moving Average (SMA) on the four-hour chart is in line to provide the much-needed
Źródło: https://coingape.com/bitcoin-cardano-price-analysis-august-2-2021/
