BLOOMBERG GALAXY CRYPTO INDEX: The downtrend continues, within unchartered territory again…….

Short-term: Down  (7 dec 2018)

Support 1: 205.10        Resistance 1: 223.13

Support 2: 199.26        Resistance 2: 233.55

Prices broke below the crucial horizontal support around 242.65 in the past few days, ending the consolidation and continuing the downtrend.
At the moment prices are pausing above the horizontal support around 205.10. An hourly close below this support level suggests further selling pressure with the lower end of the long-term falling trend channel offering support around 175.85.
The upside potential is limited and we recommend selling each rally towards the declining MA-34 line at 223.13 and the upper end of the falling trend channel around 233.55.

Bloomberg Galaxy Crypto Index uurgrafiek 1 (2)