Bitcoin, Ethereum Technical Analysis: Strong Dollar Pushes BTC Below $19,000

Bitcoin was erstwhile again trading nether $19,000, arsenic the U.S. dollar moved to a one-week higher versus respective G7 currencies. Friday’s determination saw the token autumn to a cardinal enactment constituent successful the process. Ethereum was besides successful the reddish successful today’s session, arsenic prices fell for a 4th consecutive day.

Bitcoin

Bitcoin (BTC) was backmost successful the reddish connected Friday, arsenic the U.S. dollar continued to fortify versus respective G7 currencies.

Following a precocious of $19,315.20 during Thursday’s session, BTC/USD slipped to an intraday debased of $18,945.48 earlier today.

The determination pushed prices of the token towards a cardinal enactment constituent of $18,900, arsenic terms spot besides declined.

BTC/USD – Daily Chart

Looking astatine the chart, the comparative spot scale (RSI) of 14-days collided with a level of 40.50, and arsenic of penning is acceptable to determination beneath 40.00.

The 10-day (red) moving mean has besides extended its downward trend, which could beryllium a motion of further bearish sentiment.

Should we spot the RSI proceed to trickle lower, determination is simply a beardown anticipation that BTC could beryllium trading beneath $18,000 this weekend.

Ethereum

In summation to bitcoin, ethereum (ETH) besides returned to the reddish successful today’s session, falling beneath $1,300 successful the process.

Today’s sell-off saw ETH/USD driblet to a bottommost of $1,260.61, falling beneath a cardinal terms level successful the process.

The aforementioned enactment level successful this lawsuit was the constituent of $1,270, which was past breached connected October 13.

ETH/USD – Daily Chart

At that time, prices of the world’s 2nd largest cryptocurrency dropped beneath $1,200, and it appears that bears could erstwhile again beryllium targeting a akin drop.

The adjacent disposable level seems to beryllium the $1,220 terms floor, which could beryllium reached if the RSI hits its ain bottommost of 36.70.

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Could ethereum autumn beneath $1,200 this weekend? Leave your thoughts successful the comments below.

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