Bitcoin hits new session low as Ether takes out 3,950

Both Bitcoin and Ether are slipping back in recent trades. Ether is now creeping closer to a potential drop below 3,950. That was a level that was highlighted here in the previous update. At the same time BTC is falling to fresh session lows as it homes in on 48k for the second time today. The price just now fell to test that level and it dropped briefly below it and it remains to be seen if the lows from last week will remain intact if there is a clear downside break below 48k from now on. The big level on the downside is still that 200 day moving average, in place at around 46,720, so a sustained break 48k might increase the chances of that being tested before anything else unfolds. That remains to be seen of course, but BTC is not on an upwards path right now as judged by the recent price action. It is currently trading at 48,150 as Ether does finally take out 3,950