Bitcoin still under pressure as it drops below 32k for the first time today

The cryptocurrency markets are under pressure still today and that is well demonstrated by the move to fresh session lows for Ether in the past few minutes as the price drops closer to $2400 once again. That move is leading Bitcoin lower too as it eyes a potential break below 32k for the first time today. The move lower there was highlighted here earlier today by more than one channel from this direction and unless Bitcoin can recapture levels above 34,800, then the risk of a deeper fall below 30k will not disappear. In fact, as the update is being typed Bitcoin has just fallen below 32k as Ether takes a kick below $2400. The risks of both unwinding further are increasing as price continue to fall back this afternoon