Ether clinging to $4000 but only just

A short while ago as BTC dipped under 54k, Ethereum (ETHUSD) fell to test that $4000 level once again. Now earlier it was reported that BTC has already entered what is known as a bear market. That came into being once the price dropped below 55,192. In terms of Ether replicating the same thing, that price point is still intact. The all time record high for Ether was reached on same day as BTC, when it rose to 4,866. So, if one subtracts 20% from that high you will arrive at 3,892 for the price point at which Ether will also fall into a bear market. The immediate price action has seen a very minor double bottom try to form just above 4000 right now, but the downside is still very much under threat right now. A break below 4000 from here could open a path to see that lower level put to the test. It is currently trading at 4,002