Bitcoin drops below 39k as Cryptocurrencies come under renewed pressure

Both Bitcoin and Ethereum have changed tack this afternoon. Ether has fallen below the noted 2743 breakout level and that has added further pressure onto Bitcoin. That had already dropped back underneath 40k earlier this afternoon and now that move has been extended as the leading coin falls below 39k. That is now almost $2000 below the earlier high seen this morning. It has also shifted the dynamic somewhat and clearly the market is far less positive this afternoon that looked likely earlier on. This current downside move could easily extend further, and as it does so it will increasingly make the rise above 40k and its 200 day moving average, look like it was more about removing stops, than it was about anything else. Bitcoin is currently trading at 38,950