Bitcoin, Ethereum Technical Analysis: BTC Moves Away From $20,000 Following Historic Fed Rate Hike – Market Updates Bitcoin News
— Historic, Hike, Support, Todays, Market, Point, Technical, Bitcoin, Rate, Moves — 1 min read
Bitcoin BTC moved away from its recent low of $20,000 on Thursday, following a historic rate hike from the Federal Reserve. ETH ETH was also marginally higher today, as markets responded to the latest interest rate hike. The 14-day RSI also seems to have settled at a support area of 23.20, which might give bulls some optimism. The $21,100 point could be a potential price floor, however, bears will likely attempt to send BTC even lower. For this to happen, the Relative Strength Index will likely need to be trading below 20, where it currently resides, to give bulls optimism. ETH is still nearly 40% lower than at the same point last week, with bearish sentiment still present, with some expecting a bottom of $800 Source