Traded higher on Friday, following the latest US inflation report. Core inflation rose to 0.6% and consumer prices rose to 8.2%, above expectations of 8.1%. Nevertheless, traders seem to have breathed a sigh of relief as the uncertainty surrounding the report has now passed. Bitcoin nears $20,000 in news.
Bitcoin (BTC) moved towards the $20,000 level on Friday. This is due to the easing of uncertainty in the cryptocurrency market following the latest US inflation report.
Markets reacted positively as speculation around the report faded, even as consumer prices rose more than expected.
As a result of theBTC/USD traded at a low of $18,642.11, it rose to an intraday high of $19,835.17 within 24 hours.
Indicator currently tipping into bullish territory increase.
The 14-day Relative Strength Index (RSI) is currently above the 50.00 mark, tracking 51.54 at the time of writing, and likely headed for a 55.00 ceiling.
If this point is reached, Bitcoin could not only exceed $20,000, but approach $20,500.
Ethereum also closed today’s session as it climbed above $1,300 and crashed into a key resistance point in the process. rose in
ETH/USD peaked at $1,335.10 earlier in the day and crashed into a key resistance level at the same point in the process.
This is the highest price the world’s second largest cryptocurrency has traded since the beginning of the week.
However, after hitting this high, the price is down slightly The token is currently trading at $1,328.51. As you can see from the
chart, this is because the RSI has collided with its own resistance point, the 46.50 mark.
For Ethereum to continue to rise, price strength needs to exceed the current cap.
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