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Bitcoin and Ethereum Technical Analysis 15th of March
Bitcoin failed to break over its long-term barrier level of $40,000 on the eve of tomorrow’s FOMC meeting, as markets consolidated. While prices have risen away from previous support, the upward impulse has paused as BTC approaches its ceiling. As of the time of writing, ETH was trading at its support level.
Bitcoin
On Tuesday, as markets braced for tomorrow’s FOMC meeting, Bitcoin came dangerously near to bursting through its $40,000 barrier level.
Bitcoin/USD has surged to an intraday high of $39,742.50 today after hitting a low of $37,773.21 on Monday.
Today’s high put BTC on the verge of hitting its ceiling, but given the market’s present volatility, strength turned to weakness as prices fell.
BTC/USD fell to a low of $38,310.21 early today, but has since recovered to trade over $39,000.
According to the chart, the RSI indicator is presently tracking at 47.9, just below the resistance level of 49.
Markets are almost certainly awaiting the outcome of tomorrow’s meeting and press conference before we see the next upward or downward trend.
Ethereum
If there is one cryptocurrency that represents the market’s current uncertainty, it is…
