Bitcoin was trading below $20,000 on Friday as the market prepared for the release of the latest US nonfarm payroll report. The token has now turned lower for three consecutive sessions as bearish sentiment has returned to the market. Ethereum continued to consolidate ahead of this afternoon’s release.
Bitcoin
Bitcoin (BTC) was below $20,000 again on Friday as traders continued to anticipate this afternoon’s nonfarm payrollsreport. (NFP) report continued to be expected.
September’s employment numbers are expected to come in at 250,000 and many believe the report could be better than expected.
BTC/USD fell to a low of $19,864.57 in today’s session, less than 24 hours after trading as high as $20,294.39.
Finally, price uncertainty has increased in recent days as the USD began to strengthen after its recent decline.
The 14-day Relative Strength Index (RSI) is currently hovering just above the lower limit of 51.00, with the next resistance point at 55.80.
shouldBTCmove toward this point, bitcoin could not only move above $20,000, but could approach $21,000.
Ethereum
Ethereum (ETH) was mostly consolidating in today’s session as prices continued to trade below the $1,380 ceiling.
The world’s second-largest cryptocurrency fell to $1,349.45, slightly below yesterday’s peak of $1,375.77.
Overall,ETHis still trading about 3% higher than at the same time last week, while /USD tracks under a significant hurdle in the RSI.
At the time of writing, it is hovering around 45.64 below resistance at 47.00 andETHis at 1,356.90 trading at $1,356.90.
Going forward, if we see the token break out of this point, we could see Ethereum finally hit $1,400.
The 10-day moving average (red) is also approaching the 25-day moving average (blue), another sign of a possible momentum change.
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