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Bitcoin and Ethereum Price Forecast – BTC Prices Crash Further

By:
Colin First
Published: Mar 27, 2018, 07:02 UTC

The prices have crashed lower as Twitter also joins the 'ban ads' bandwagon

Bitcoin and Ethereum Price Forecast – BTC Prices Crash Further

The BTC prices have been crashing lower over the last 24 hours despite there being a range of supports for the prices in the vicinity. There have been many reasons that are being cited for the move lower and the chief among them is the news that twitter would be banning further ads that are related to the crypto industry. This follows the action from Google and Facebook on similar lines.

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Prices In Downtrend

But to be honest, it has to be noted that this is something that was generally anticipated in the markets over the last couple of weeks and it is only natural that Twitter joins other social media in doing this ban. For the people in the know, this is not much of a surprise and that is why we feel that there is more to this move than what meets the eye. We are not seeing the BTC prices trying to break through strong support in the $7900 region and if and when that breaks, we should see the bears next eye the region of support in the $7400 region.

Bitcoin 4H
Bitcoin 4H

The ETH prices have also crashed lower and now they are threatening to break through the strong support region around $460 and if and when that happens, then the traders are likely to be looking much lower towards the $400 region in due course of time. It is likely that this area might come under some serious pressure in due course of time.

Looking ahead to the rest of the day, we do not see any change in the trend as of now and so we can safely expect that the prices of BTC and ETH would continue to fall, though the speed and the extent is likely to be lesser, over the next 24 hours. It is going to be a tough time for the bulls in the market.

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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