Bitcoin, Ethereum Technical Analysis: BTC Hits 2-Month High, Climbing Above $19,000

Bitcoin continued to commercialized higher connected Jan. 13, with prices racing supra the $19,000 level, hitting a two-month highest successful the process. The latest surge comes arsenic traders continued to respond to Wednesday’s U.S. ostentation report, which dropped to 6.5%. Ethereum besides roseate today, hitting a caller multi-month high.

Bitcoin

Bitcoin (BTC) rallied to a two-month precocious earlier successful today’s session, arsenic prices climbed supra the $19,000 mark.

Following a debased of $17,995.20 connected Thursday, BTC/USD moved to a highest of $19,031.80 earlier successful the day.

As a effect of the move, the world’s largest cryptocurrency climbed to its strongest constituent since November 8, erstwhile terms was supra $20,000.

BTC/USD – Daily Chart

Looking astatine the chart, the rally came arsenic the 14-day comparative spot scale (RSI) roseate to a highest of 82.00, which was its highest people successful implicit a year.

In summation to this, the upwards inclination connected the 10-day (red), and 25-day (blue) moving averages continued to mature, frankincense extending bullish momentum.

Despite this, prices are present good beyond overbought, which could mean that bears are lurking and preparing for reentry.

Ethereum

Like BTC, ethereum (ETH) besides importantly roseate connected Friday, with terms moving supra the $1,400 mark.

ETH/USD deed an intraday precocious of $1,432.28 successful today’s session, which comes little than a time aft trading astatine a bottommost of $1,378.42.

As with bitcoin, this spike successful terms has pushed ethereum to its highest constituent since November 8, erstwhile it deed a precocious of $1,580.

ETH/USD – Daily Chart

From the chart, prices of ETH are present heavy successful overbought territory, with the RSI scale tracking astatine a level of 75.54.

Earlier gains person already begun to slip, arsenic erstwhile bulls person begun taking profits successful anticipation of a reversal successful momentum.

As of writing, ETH/USD is trading astatine $1,410.60.

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Could we spot ETH deed $1,500 this weekend? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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