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HomeCrypto NewsBearish Signals Abound for Bitcoin and Ethereum: Here’s What the Charts Say

Bearish Signals Abound for Bitcoin and Ethereum: Here’s What the Charts Say

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“`json
{
“title”: “Technical Analysis Indicates Bearish Pressure Mounting for Bitcoin and Ethereum”,
“content”: “Major cryptocurrencies faced significant downward pressure today, with Bitcoin’s price dipping to approximately $85,000. Ethereum mirrored this decline, experiencing a drop of nearly 10% against the US dollar. Market analysts point to deteriorating technical indicators on key charts as the primary driver behind the current sentiment shift.\n\nOn-chain metrics and chart patterns for both leading digital assets are flashing cautionary signals. Several critical support levels have been tested, with some failing to hold, suggesting a potential continuation of the corrective phase. The movement has been accompanied by increased selling volume, indicating a shift in market participant behavior beyond mere volatility.\n\nThis price action is being reflected in derivatives and prediction markets, where sentiment has turned notably more cautious in recent sessions. Traders are closely monitoring the next major support zones for Bitcoin and Ethereum, as a sustained break below could signal a deeper market correction. The current technical outlook underscores the heightened importance of key price levels in determining the near-term trajectory for the broader digital asset market.”,
“tags”: [“Bitcoin Analysis”, “Ethereum Price”, “Crypto Market”, “Technical Analysis”, “Bearish Trend”]
}
“`

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