Bitcoin, Ethereum Technical Analysis: BTC Below $19,000 Following FOMC Minutes

Bitcoin was trading beneath $19,000 connected Thursday, arsenic markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted astatine upcoming hikes, portion besides acknowledging a level of astonishment astatine the complaint astatine which ostentation has risen. Ethereum moved beneath $1,300 successful today’s session.

Bitcoin

Bitcoin (BTC) was backmost successful the reddish connected Thursday, arsenic markets reacted to the latest Federal Open Market Committee (FOMC) minutes.

September’s minutes showed that the U.S. Federal Reserve was comparatively amazed astatine the complaint astatine which ostentation has risen, whilst besides signaling the imaginable of upcoming complaint hikes.

As a effect of the report, BTC/USD fell to an intraday debased of $18,642.11, aft a little rally successful yesterday’s session.

BTC/USD – Daily Chart

Today’s sell-off takes the token to its lowest constituent since September 28, and adjacent to a enactment of $18,600 successful the process.

Looking astatine the chart, the 14-day comparative spot scale (RSI) has besides breached retired of its level astatine 41.00, which could beryllium a motion of further bearish pressure.

So far, the token has marginally rebounded from earlier lows, and arsenic of writing, is trading astatine $18,714.45.

Ethereum

In summation to BTC, ethereum (ETH) was besides little connected Thursday, arsenic the token slipped beneath a cardinal people of its own.

The world’s 2nd largest cryptocurrency fell beneath $1,300 earlier successful today’s session, hitting a debased of $1,232.93 successful the process.

Like with bitcoin, this is the lowest terms that ETH/USD has deed since late-September, and should it determination beneath this, it volition deed a bottommost not seen since July.

ETH/USD – Daily Chart

Yesterday’s upwards crossover betwixt the 10-day (red) and 25-day (blue) moving averages present seems to beryllium shifting course, pursuing today’s drop.

A flimsy presumption for ethereum bulls, is that the token has moved distant from the day’s low, pursuing a collision with a enactment constituent of $1,235.

Overall, terms volatility continues to stay high, with a beardown anticipation of ETH falling beneath $1,200 successful the coming hours oregon days.

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

Will today’s debased beryllium the bottommost for ethereum this week? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.