Bitcoin, Ethereum Technical Analysis: BTC Back Above $20,000 as Bulls Return to Crypto Markets
Following a turbulent start to the week, bitcoin was back in the green on Tuesday, as the token climbed back above $20,000. The move saw prices race to their highest point in nearly two weeks, moving past a key resistance level in the process. Ethereum was also trading higher, as it neared the $1,400 level.
Bitcoin
Bitcoin (BTC) neared a two-week high on Tuesday, as the token rebounded following a recent bearish spell.
Following a bottom of $19,006.11 to start the week, BTC/USD raced to an intraday peak of $20,294.34 on Tuesday.
This is the highest point that the token has traded at since September 14, and is marginally above a resistance level of $20,250.
As of writing, BTC is still trading slightly above this ceiling, with the 14-day relative strength index (RSI) also tracking above a similar threshold.
Currently the index resides at a reading of 52.72, which is above its own resistance level of 49.00.
Should price strength continue to move in an upward direction, then we could see BTC back above $21,000 in the coming days. Read More...
