Bitcoin fell below $17,000 early in the week rice field. Markets primed for a big week of economic announcements. US inflation will be released tomorrow and is expected to ease to 7.3%. Many believe this will make way for a shift away from the Federal Reserve’s aggressive rate hike policy. Ethereum has also fallen, with him below $1,250 at the time of writing.
Bitcoin
Bitcoin (BTC) starts week in red as traders prepare for week of big economic announcements from US. did.
Inflation was released on Tuesday and is expected to drop to 7.3% from 7.7% the previous month.
BTC/USD fell to an intraday low of $16,899.39 during Monday’s session.
chart, today’s drop has pushed Bitcoin to his 4 It has fallen by a quarter and is approaching the lower end of $16,700 in the process.
His 14-day Relative Strength Index (RSI), currently tracking 47.42, is also approaching its own resistance at 46.00.
Depending on tomorrow’s inflation rate,BTC could fall below his $16,700 and approach $16,000.
Ethereum
Ethereum (ETH) was also in a downtrend on Monday, with prices falling for the second time in a row.
Following Sunday’s high of $1,281.78,ETH/USD moved to a bottom of $1,243.48 earlier in the day.
The move sent Ethereum down to his lowest since November 8th, and now he is nearing the $1,230 lower bound.
chart we see the recent bearishness ofETH Sentiment is back The RSI failed to break out of the 52.00 ceiling. And it seems.
Despite this downward trend, the 10-day (red) moving average is still above the 25-day (blue) moving average.
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