@BOMBERuss 21 September 2021 more from that month

The negative dynamics in the stock markets affected cryptocurrencies. Against the background of the debt problems of the Chinese developer China Evergrande Group, world indices lost from 1% to 3.6%. On September 21, Bitcoin and Ethereum fell to $40,100 and $2,800, respectively. At what points will the current correction stop? We analyze the price levels of bitcoin and Ethereum on the Bybit cryptocurrency exchange. On September 20, bitcoin tested the level of $42,600. At the time of publication of the material, the asset is trading around $42,900. If the price is fixed below this level, we can expect a decrease in BTCUSD to the next support at $37,500. The levels on the daily chart of BTCUSD Perpetual Contract (Bybit). Data: TradingView. If the $37,500 level is held, we should expect a sideways movement of the asset in the trading range of $37,000-$40,000 in order to retest the $50,000 resistance. However, if the negative dynamics in the stock markets continue, a more likely scenario will be the continuation of the downtrend with repeated testing of support in the $30,000 zone. #CryptoTrading