Bitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000, Some Anticipating Drop to $30,000
After a boost on Tuesday, following the release of U.S. inflation data, bitcoin prices were once again lower on Wednesday. BTC has mainly traded below $40,000 during the session, with ETH continuing to hover above the $3,000 level.
Bitcoin
Following a slight rebound in price during yesterday’s session, BTC fell below $40,000 earlier today, and has remained there throughout the day so far.
BTC/USD dropped to an intraday low of $39,389.66 on Wednesday, which came less than 24 hours after hitting a peak of $40,617.59.
Wednesday’s move saw prices move past the support level of $39,515. However, they have since rallied, moving away from these lows.
As of writing, BTC is now trading at $39,783.91, which is still 1.66% lower than yesterday’s high, with some expecting further declines.
Prominent Twitter technical analyst “Plan B” ran a poll asking his 1.7 million followers if they believed BTC will dip below $30,000, to which 45% of those who voted said “yes.”
The majority who voted “no” are likely looking at the RSI, which is currently tracking at 37, and is already oversold, and may be anticipating a more short-term realistic target of $37,000.
do you also want to know the secret of trading and how not to lose money ?
click here ~tinyurldotcom/f33wjb2t (copy this link and paste to new tab and remove "dot " and aaply actual "." )