Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200 as Bank of Japan Policy Decision Impacts Markets

Ethereum rose back above the $1,200 level on Tuesday, as the dollar rebounded following the latest Bank of Japan (BOJ) policy decision. The bank adjusted its yield curve control, which increased its cap on the 10-year government bond, allowing moves of up to 50 basis points (bps), up from 25 bps. Bitcoin also rose on the news, climbing closer to $17,000

Bitcoin

Bitcoin (BTC) moved closer to the $17,000 level on Tuesday, as traders reacted to the latest Bank of Japan policy decision.

BTC/USD surged to a peak of $16,837.65 earlier in today’s session, less than 24 hours after hitting a low of $16,398.14.

Today’s move saw the token climb above a key resistance level of $16,700, with prices rising to a four-day high in the process.

Looking at the chart, the surge took place as the 14-day relative strength index (RSI) broke out of a ceiling at the 46.00 level.

As of writing, the index is currently tracking at the 46.61 mark, which is its strongest point since last Thursday.

Should the index continue this upward trend, we will likely see BTC move above the $17,000 level in the coming days.

Ethereum

In addition to bitcoin, ethereum (ETH) also trended higher on Tuesday, as it once again rose into the $1,200 region.

Following a low of $1,160.38 to start the week, ETH/USD raced to a peak of $1,214.73 earlier in the day.

This comes despite the fact that there has been a recent downward crossover between the 10-day (red) and 25-day (blue) moving averages.

As of writing, the world’s second largest cryptocurrency seems set to collide with a higher resistance at the $1,230 level.

This could prove to be challenging however, with the 14-day RSI now hovering directly below a ceiling at 47.00.

Should there be a break of this key threshold, we will likely see more ETH bulls reenter the market.

Register your email here to get weekly price analysis updates sent to your inbox:

Will we see today’s bull run continue throughout the week? Leave your thoughts in the comments below.

from Bitcoin News https://ift.tt/M5E9gaV

Comments

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought

breaking news this december get instant daily breaking news

Search This Blog