Bitcoin, Ethereum Technical Analysis: BTC Moves Lower as Prices Fail to Break Out of Key Resistance Level
Bitcoin was trading lower in today’s session, after failing to break out of a key resistance level of $19,600. Bullish sentiment seemed to have returned to the market on Monday, however this momentum was short lived. Ethereum also fell in today’s session, but remained above its recent price ceiling. Bitcoin Bitcoin (BTC) moved lower on Tuesday, as bears returned to action following a failed breakout of a key resistance point. BTC/USD slipped to an intraday low of $19,206.32 earlier in today’s session, moving away from Monday’s peak of $19,698. Yesterday’s move saw the token briefly move past its ceiling of $19,600, however, after failing to maintain momentum, bulls vacated their positions. BTC/USD – Daily Chart As a result of today’s drop, the 14-day relative strength index (RSI) fell to a floor of 47.50, which is its weakest point since Saturday. Currently the index has rejected a move below this mark, and is tracking at 48.54, ...