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Bitcoin Ethereum Technical Analysis: BTC Remains in the Green Ahead of US Consumer Sentiment Report

BTC Remains Near $31,000, Ahead of US Consumer Sentiment Report

Bitcoin remained close to the $31,000 level on Friday, as momentum in the market continued to be bullish heading into the weekend. This comes ahead of the anticipated consumer sentiment report from the United States, which is expected to show an increase in overall consumer confidence. Ethereum also edged higher today, climbing above $1,900.

Bitcoin

Bitcoin (BTC) remained close to $31,000 in today’s session, as traders prepared for the consumer sentiment report from the United States.

After dropping to a low of $30,273.22 on Thursday, BTC/USD raced to an intraday peak of $31,256.86 earlier today.

As a result of the move, bitcoin neared a recent one-year high at $31,443, which was last Friday’s high.

Bitcoin chart by TradingView

Friday’s surge also led to a breakout of a key price ceiling at $30,800.

This appears to be due to the relative strength index (RSI) running into its own resistance level at the 70.00 mark.

At the time of writing, BTC is trading at $30,831.12.

Ethereum

Ethereum (ETH) climbed above the $1,900 mark earlier in the day, however traders have already moved to consolidate gains.

ETH/USD briefly rose to an intraday high of $1,906.37 on Friday, but has since tailed off, and is now trading at $1,891.36.

Friday’s peak saw the world’s second largest cryptocurrency come close to a collision with the resistance level at $1,910.

Ethereum chart by TradingView

Looking at the chart, the RSI also neared a ceiling of its own, as it approached the 58.00 point of resistance.

In the event this level is broken, there is a strong possibility that ethereum could move beyond $1,930.

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Will this bullish sentiment continue throughout the weekend? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/A4SeqBl
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