Bitcoin approached $17,000 level on Tuesday . After the New Year celebrations, market volumes begin to recover. This is because traders are turning their attention to tomorrow’s Federal Open Market Committee (FOMC) minutes report. Ethereum also continued to trade above $1,200 in today’s session.
Bitcoin
Bitcoin (BTC) hits $17,000 on Tuesday as traders turn their attention to his FOMC minutes report on Wednesday approached the level.
BTC/USD hit a high of $16,760.45 early in today’s session. This happens within 24 hours after trading at the low of $16,666.92.
As market volatility remains high after the New Year celebrations, today’s activity has even brought Bitcoin to the point of breaking the $16,800 long-term resistance level.
chart, Tuesday’s move comes as a 14 day relative The Strength Index (RSI) has approached its own resistance level.
The index is currently hovering at 47.18, just below the resistance point at the 48.00 mark.
This cap appears to be the main hurdle that prevents prices from continuing to rise and break out of the $17,000 zone.
Ethereum
BTCIn addition to, Ethereum (ETH) was largely consolidated on Tuesday, with prices hitting the $1,200s. It continues to trade beyond.
Following an early year low of $1,212.49,ETH/USD peaked at $1,219.86 in today’s session.
As a result of today’s move, Ethereum has approached his $1,230 resistance level which has been going on since December 16th.
Looking at the chart, his RSI for the 14 days is below his 49.00 Ethereum was unable to regain this cap as it failed to break through the resistance.
At the time of this writing, the index is tracking his 48.90, with the bull market approaching this point ahead of his FOMC report tomorrow, with a potential price surge. may be a trigger for
After tomorrow’s report, all eyes will be on Friday’s US non-farm payrolls (NFP). This could also be a catalyst for market movements.
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