Bitcoin ( BTC ) formed below $17,000 at the end of the week and week after week its price continued to bounce and strongly reflect its influence in the market.
After making a low of $16,671.80 on Sunday, it certainly rose to an advanced peak of $16,815.39 in today’s session which actually turned out to be a gain and on Monday when seen that the world’s largest The major cryptocurrency has risen above the resistance level of $16700 which is certainly a very good thing, yet the market continues to be in a volatile process that includes neither bulls nor any kind of slowdown.
Uncertainty is personified when the 14-day Relative Strength Index hovers around a point below the 46.00 mark.
We can see that currently the index remains clearly fresh at 44.16 and with a new floor it appears to target 42.00 and see until this key support or resistance level is broken. Till then the prices will remain in a strong position and definitely we can say that the prices are seen to be in an uptrend.
In addition, Ethereum also came in good shape during Monday where it remained below the $1200 mark and its position collectively did not look good but on the first day it seemed to see a high of $1,192.92 but the bulls crossed the $1,200 mark. And when it comes to the move, in the week the price crosses a price of $1170 and we can see that this floor is itself a strong position on the relative stand. depicts. At the time of writing, the index is observed at 42.30 which is the next visible resistance level closing at a higher column range of 44.00 and we can see that this definitely bodes much better for the cryptocurrency as the prices consolidate market. Prove that they expect a successful performance.
