Skip to main content

Bitcoin, Ethereum Technical Analysis: BTC Hits 1-Week High, as Bulls Move to Buy the Dip

Bitcoin, Ethereum Technical Analysis: BTC Hits 1-Week High, as Bulls Moved to Buy the Dip

Bitcoin rebounded from recent lows on Thursday, as bulls moved to buy the dip, following a drop below the $26,000 level. The rally comes as traders rejected a full breakout below a key support point of $25,600. Ethereum was also back in the green during today’s session.

Bitcoin

Bitcoin climbed higher on Thursday, as bulls moved to buy the recent dip in price, following a drop below the $26,000 level.

After trading at a low of $25,805.00 on Wednesday, BTC/USD rose to an intraday peak of $26,786.90 earlier in today’s session.

This is the strongest point that bitcoin has hit since last Thursday, when the cryptocurrency was trading above the $28,000 mark.

Looking at the chart, the surge sent the 14-day relative strength index (RSI) to a ceiling of 28.00, which is also a one-week high.

As of writing, price strength has moved below this point, however should a breakout occur, there is a good chance that BTC will head above $27,000.

Ethereum

Ethereum (ETH) was also back in the green, and neared a breakout above the $1,700 zone late on Wednesday.

ETH/USD rallied to a high of $1,696.59 during yesterday’s session, less than 24 hours after the price was at a bottom $1,634.87.

Like with BTC above, today saw ethereum trade at its highest point in a week, with price peaking above $1,800 last Thursday.

The 14-day RSI has also collided with a key resistance level, in this occasion at the 34.00 zone.

Sentiment has marginally shifted, with the index now at 32.04, resulting in the easing of earlier gains.

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

Can ethereum hit $1,800 this week? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/DgYzs9f
Labels:

Comments

Post a Comment

Popular posts from this blog

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
10 comments
Read more

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
Post a Comment
Read more

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
Post a Comment
Read more