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Home Crypto Updates

BTC Briefly Above $17,000 Ahead of US Consumer Confidence Report – Market Updates Bitcoin News

by Blockchain Daily Report
December 21, 2022
in Crypto Updates
Reading Time: 4 mins read
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BTC Briefly Above $17,000 Ahead of US Consumer Confidence Report – Market Updates Bitcoin News
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Bitcoin was briefly buying and selling above $17,000 on Wednesday, as markets ready for the discharge of the upcoming U.S. client confidence report. As we speak’s determine is anticipated to return in at a studying of 101.00 for December, which is greater than final month’s variety of 100.2. Ethereum was additionally within the inexperienced, because it neared a key resistance stage.

Bitcoin

Bitcoin (BTC) rose briefly above the $17,000 stage on Wednesday, as markets started to anticipate the discharge of the upcoming U.S. client confidence report.

Following a low of $16,763.66 on Tuesday, BTC/USD raced to an intraday excessive of $17,012.98 earlier in at this time’s session.

As we speak’s surge comes as costs as soon as once more rose above a key resistance stage on the $16,800 stage.

Bitcoin, Ethereum Technical Analysis: BTC Briefly Above $17,000 Ahead of US Consumer Confidence Report
BTC/USD – Every day Chart

Wanting on the chart, BTC has moved away from earlier highs, with the coin presently buying and selling on the $16,868.40 mark.

This comes regardless of the 14-day relative energy index (RSI) failing to interrupt out of a current ceiling at 49.00.

As of writing, the index is monitoring on the 47.03 stage, and appears to be heading for a ground at 46.00.

Ethereum

Ethereum (ETH) continued to commerce above $1,200 on Wednesday, with bulls pushing costs nearer to a key resistance stage.

ETH/USD hit a peak of $1,224.09 earlier in at this time’s session, which comes lower than 24 hours after hitting a backside of $1,206.44.

Regardless of costs nearing a ceiling on the $1,230 mark earlier within the day, bearish sentiment has elevated at this stage, resulting in earlier bulls retreating.

Bitcoin, Ethereum Technical Analysis: BTC Briefly Above $17,000 Ahead of US Consumer Confidence Report
ETH/USD – Every day Chart

As of writing, the world’s second largest cryptocurrency is buying and selling at $1,214.44, which comes following a current crossover of shifting averages.

Wanting on the chart, a downward cross between the 10-day (pink) and 25-day (blue) shifting averages has occurred, which usually is an indication of pending declines.

Ought to this momentum intensify within the coming days, ETH might probably transfer again in the direction of a ground of $1,160.

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Will at this time’s client confidence report ship crypto costs greater? Depart your ideas within the feedback under.

Eliman Dambell

Eliman brings an eclectic perspective to market evaluation, he was beforehand a brokerage director and retail buying and selling educator. Presently, he acts as a commentator throughout varied asset courses, together with Crypto, Shares and FX.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, instantly or not directly, for any harm or loss induced or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

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