Bitcoin Ethereum Technical Analysis BTC Edges Closer to $17,000
Bitcoin moved closer to the $17,000 level on Tuesday, as market volume begins to pick up following the New Year’s celebrations. This comes as traders turn their attention to tomorrow’s Federal Open Market Committee (FOMC) minutes report. Ethereum also continued to trade above $1,200 in today’s session.
Posted on Fri Jan 06 2023 by Admin
Bitcoin
Bitcoin (BTC) edged closer to the $17,000 level on Tuesday, as traders turned their attention to Wednesday’s FOMC minutes report.
BTC/USD hit a high of $16,760.45 earlier in today’s session, which comes less than 24 hours after trading at a low of $16,666.92.
Today’s activity saw bitcoin near a breakout of a long-term resistance level of $16,800, as market volatility remains high following the New Year’s celebration.
Ethereum
In addition to BTC, ethereum (ETH) mostly consolidated on Tuesday, with prices continuing to trade above the $1,200 point.
Following a low of $1,212.49 to start the year, ETH/USD hit a peak of $1,219.86 earlier in today’s session.
As a result of today’s move, ethereum moved closer to a resistance level of $1,230, which has been in place since December 16.