Are the bears tightening their grips against the bulls’ necks this time around?
The crypto market’s outlook is starting to look more and more like a bearish takeover by the day.
The total crypto market cap has declined by about 1.59% over the last day and has now declined from the $1.44 trillion level last seen on Sunday to about $1.40 trillion today.
The crypto market is currently a sea of red:

As expected, the market downturn over the last day has caused a wave of bull liquidations in the market.

Over the last day, traders have lost more than $125 million to liquidations, with the bulls taking a $94 million hit out of the total.  

Bitcoin Isn’t Breaking $38,000 Anymore
Bitcoin appears to have abandoned its break above the $38,000 zone. For now, at least.
The cryptocurrency continues to print more and more red candles as the days go by, and may even test the ascending trendline that has held it up ever since its break above $32,000.

We might see Bitcoin retest $35,973 at the end of its current decline, before a rebound move that launches it towards and above $38,000.  

Ethereum Approaches $1,930
Ethereum appears to be following Bitcoin’s price movements pretty closely. The cryptocurrency has also abandoned its break above $2,200 and is aiming for a retest of $1,930.

Ethereum’s position might turn out to be a difficult one. The $2,000 zone is a strong psychological support, and a break below might prove to be a hard one to correct.
In all, as long as Ethereum stays above $1,930, the bulls might find it fairly easy to launch a corrective rally.  

Incoming Breakout On $BAKE
The rest of the market has turned red. However, $BAKE , better known as Bakery Token has rallied by more than 10% over the last day.

In fact, the cryptocurrency has rallied by more than 30% over the last week and is now facing resistance somewhere around $0.17.

Levels above $0.17 were last seen around April this year. This leads us to assume that BAKE might enter another 37% rally to the upside if a break above $0.17 occurs.  

FTT Is Back In Business
FTX Token used to be one of the most bullish cryptocurrencies on the market. The cryptocurrency gained more than 300% in November, before losing half of everything to a decline that brought it back below the $4 support.

However, FTT has bounced back and is now up by more than 11% over the last day. Moreso, FTT now has a clear price trajectory that promises even more massive gains if a break above $4 happens again.

Watch Out For $RARE
According to the hourly chart, RARE broke above the $0.1 resistance sometime last week, as shown below.

Since then, the cryptocurrency has retested the ascending trendline as shown above several times. Aside from being up by more than 14% over the last day, RARE appears to be in an uptrend at the time of writing. If RARE is ever going to retest the $0.15 resistance, the cryptocurrency still has about a 35% journey to the upside to make.

#BTC #ETH #BAKE #FTT #RARE
$BAKE $FTT