The Price of bitcoin towards the end of Tuesday nursed losses of just some 2% Price action and as a consequence, had been moving within a narrowing range block formation until a breach south came forth into play.
The BTC/USD pair was trading within tight conditions, downside at $8,250, with upside capped at $8,400. Given a fresh near-term wave of selling pressure through the support, it thus leave the door open to a further bear attack.
The EOS/USD pair on the other hand however has broken a bear flag formation that formed on the four-hour chart and is now heading to the base of the formation at 2.588.
The psychological 3.000 level has also been broken now and the price is currently holding at 2.939 after finding some support at 2.868 a level used five times in the past as support and resistance.
The relative strength index (RSI) has also broken lower and taken out two trendlines in recent times. The indicator has not reached the oversold level which could suggest there is some more downside momentum on the way.
Litecoin price is trading in the red in that session by some 4.15%.
LTC/USD bears are breaking out to the downside from an initial bearish flag structure.
Given the above-detailed breach, the psychological $50 mark is likely in the sights of the bears.