Bitcoin
Bitcoin (BTC) experienced a drop below the $29,000 zone today, as bullish investors abandoned their positions. Here are the key points:
– BTC/USD slipped to an intraday low of $28,946.51 after reaching a peak of $29,988.00 yesterday.
– The bullish sentiment surrounding Microstrategy’s BTC investment has faded.
– The relative strength index (RSI) failed to move past 50.00 and is now at 42.79.
– BTC has climbed back above $29,000, but price may consolidate as attention shifts to Friday’s nonfarm payrolls report.
Ethereum
Ethereum (ETH) also experienced a decline, dropping below the $1,850 support point. Here are the key points:
– ETH/USD bottomed out at $1,822.35 today, following a high of $1,860.19 on Wednesday.
– Ethereum moved towards a four-week low at $1,812 due to the decline.
– The RSI fell below the 45.00 level and is now at a reading of 41.93.
– If momentum continues to drop, the next price target could be $1,795.
Hot Take: Both Bitcoin and Ethereum have seen declines in their prices, with Bitcoin struggling to maintain bullish momentum and Ethereum reaching a four-week low. The crypto market remains volatile, and investors should closely monitor these developments.
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