Bitcoin, Ethereum Technical Analysis: BTC Below $19,000 as Sentiment in Crypto Remains Bearish

Bitcoin started the week trading beneath $19,000, arsenic caller economical pressures continued to measurement connected cryptocurrency markets. The token fell little successful today’s session, arsenic marketplace sentiment remained bearish pursuing past week’s complaint hikes by the U.S. Federal Reserve. Ethereum was besides lower, falling beneath $1,300.

Bitcoin

Bitcoin (BTC) slipped beneath $19,000 to commencement the week, arsenic sentiment successful the marketplace remained bearish pursuing past week’s involvement complaint hike by the U.S. Federal Reserve.

Following a play of consolidation, BTC/USD fell to a debased of $18,696.47 connected Monday, little than 24 hours aft trading astatine a highest of $19,274.87.

Today’s diminution pushes bitcoin person to its semipermanent enactment level of $18,300, which was past deed connected Wednesday, pursuing the United States FOMC meeting.

As of writing, BTC has marginally moved distant from the aforementioned low, and is presently trading astatine $18,942.88

Bears look acceptable to recapture this floor, and should this happen, we volition apt spot the world’s largest cryptocurrency trading astatine a three-month low.

In bid for sentiment to shift, bulls volition apt request to determination beyond a ceiling of 44.00 connected the 14-day comparative spot scale (RSI).

Ethereum

Ethereum (ETH) was trading little connected Monday, arsenic the token continued to linger beneath the $1,300 level.

Following a precocious of $1,330.44 connected Sunday, ETH/USD slipped to an intraday debased of $1,275.63 earlier today.

This determination comes arsenic the RSI failed to interruption retired of a cardinal ceiling of 39.00, starring to an summation of bearish pressure.

The 10-day (red) moving mean besides continues to determination downward versus its 25-day (blue) counterpart, which is yet different motion of bearish intent.

It appears that bears could beryllium targeting the level of $1,215, and should they win successful hitting this point, whitethorn statesman to dilatory exit their positions.

As of writing, ETH is trading astatine $1,314.92, arsenic bulls effort to conflict against the sell-off.

Register your email present to get play terms investigation updates sent to your inbox:

Do you expect ethereum to ascent higher this week? Leave your thoughts successful the comments below.