BITCOIN
A major bitcoin support was recently broken which indicates the price drop to test another support level at $1,650 (S2).
If S2 is broken as well, we will be testing S3 in less than 2 weeks.
I wouldn’t worry about breaking the $1,000 mark. However, if it happens then bitcoin will go tits up.
Generally, bitcoin will be more volatile because its bitcoin that’s forking and not ethereum.
The long term prediction is that bitcoin will be trending at its previous ATH around December and into the new year period.
ETHEREUM
As for the ethereum, things look a bit brighter. Although, this altcoin (and any other coin) is dependent on bitcoin’s price so the latter can drag it down a bit.
Ethereum’s major support at $215 was broken this week which gives me enough of a reason to presume that ETH will touch base with the $100 strategical support.
I don’t think the price will go down past $100, but if that happens then we can be trading ethereum around $75 near the 1st of August.
The long term prognosis for ETH is bullish and the price should climb to around $400 mark before Christmas.
Disclaimer: Do your own due diligence before investing any money.
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