Bitcoin briefly hits $17,000 on Wednesday over-traded. Be prepared for the upcoming release of the US Consumer Confidence Report. Today’s figure is expected to be 101.00 in December, higher than last month’s 100.2. Ethereum was also green as it approached a critical resistance level.
Bitcoin
Bitcoin (BTC) briefly topped $17,000 on Wednesday. This is because the market has started anticipating the upcoming release of the US Consumer Confidence Report.
Following Tuesday’s low of $16,763.66,BTC/USD raced to an intraday high of $17,012.98 early in today’s session.
Today’s surge is due to the price once again rising above the key resistance level of $16,800.
chart,BTC has moved away from the previous The coin is currently trading at $16,868.40.
This is despite the 14-day Relative Strength Index (RSI) failing to break out of its recent peak of 49.00.
At the time of writing, the index is tracking at the 47.03 level and appears to be heading towards the bottom of 46.00.
Ethereum
Ethereum (ETH) continued to trade above $1,200 on Wednesday, with the bulls pushing the price closer to a key resistance level.
ETH/USD peaked at $1,224.09 early in today’s session. This comes within 24 hours of hitting the bottom of $1,206.44.
Even though the price was approaching the $1,230s cap earlier in the day, bearish sentiment rose at this level, pushing previous bulls back.
At time of writing, the world’s second largest cryptocurrency trades at $1,214.44. and it looks like this: Recent crossover of moving averages.
Looking at the chart, we see a downward cross between the 10-day (red) and 25-day (blue) moving averages, which is usually a sign of a pending downside.
If this momentum picks up in the next few days,ETH could see him return to the $1,160 floor.
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