Bitcoin hits $21,000 on January 17 Exceeded. Markets reacted to China’s Gross Domestic Product (GDP) figures better than expected. The economic release comes as US traders also return to action following observations of Martin Luther King Jr. Day celebrations. Ethereum briefly pushed him above $1,600 early in the session.
Bitcoin
Bitcoin (BTC) rose above $21,000 on Tuesday as markets reacted to China’s latest GDP figures Did.
Figures from the world’s second-largest economy show gross domestic product grew 3% last year, beating expectations of 2.8%.
As a result,BTC/USD climbed to a high of $21,360.87 earlier in the day, less than 24 hours after bottoming out at $20,715.75 .
Looking at the chart, today’s price rebound has pushed Bitcoin into long-term holding is approaching $21,400 term resistance level.
This cap has been in place for the past two months and was slightly breached over the weekend.
The 14-day Relative Strength Index (RSI) continues to hover around the 90.00 ceiling and if theBTC bull attempts to break above his $21,400 RSI This ceiling of the first collapsed.
Ethereum In addition to
BTC, Ethereum (ETH) rose in today’s session, temporarily pushing the price above the $1,600 level. After surpassingETH/USD surged to an intraday peak of $1,603 early this morning, following a week-first low of $1,529.57.
Prices have since fallen, with the world’s second largest cryptocurrency trading at his $1,569.75 at the time of writing.
Overall, prices are significantly overbought and bullish. Momentum appears to be at its peak. Expect a possible reversal in progress.
His 14-day RSI is currently tracking 83.84, the highest level since August 2020 when the price was below $1,200.
Although there is still a long-term bull market, Ethereum may move into consolidation until price strength is in more neutral territory.
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