BTC/USD is trading at $50854.8, 0.97% down since previous day close. The Bitcoin plunges almost 14% in a day after Tesla CEO Elon Musk tweets a suspension over accepting Bitcoin as a medium of payment for a purchase of car with a concern towards environmental issues as the Bitcoin mining emits the fuel. However, he will not sell the Bitcoin & may intend to use it as soon as mining transitions to more sustainable energy which slightly recovered the prices. Earlier, the BTC/USD slid down as investors remain cautious towards crypto trading with a concern over rising taxation rate in U.S. As seen in the chart, the BTC/USD slid down till neckline of Head & Shoulder pattern & hence, slight selling may be seen further for the day.

ETH/USD is trading at $3972.55, 0.93% down since previous close.  The Ether soars down till $3600 levels before trading near $3900 following the momentum in Bitcoin amid Musk’s tweet of suspending the BTC for car purchases keeping in check environmental concern. Earlier, the ETH/USD formed record high levels of $4100 with buyers supporting the crypto currency volatility. The surging rally has been contributed by European Investment Bank’s plan     of launching a ‘digital bond’ sale on Ethereum blockchain network. As seen in the chart, the ETH/USD slid down till Fibo level MA (10) & Fibo level 161.8. Further selling may be recommended if downside prevails.