Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index
The leading cryptocurrency has since recovered and somewhat stemmed its losses, but some onlookers are concerned by Bitcoin’s technical performance in recent months.
Analyzing BTC’s 15-day moving average charts over different time spans, Fundstrat technician Robert Slyumer
said yesterday he believes the short-term “critical stop level [is] at $5,800-6000… with a resistance level of $6,300-6400. If it can rally through that, I think there’s a chance Bitcoin could start to turn.”
The analyst conceded that “it’s going to be tough” to realize Fundstrat co-founder Tom Lee ’s prediction that Bitcoin will reach $25,000 in 2018.
Top altcoin Ethereum (ETH) is trading around $436 to press time, up a little under one percent over the past 24 hours. It had still lost over 17 percent on the week, on par with its monthly performance, also currently around 17 percent in the negative.