Bitcoin, Ethereum Technical Analysis: Bitcoin Momentarily Rebounds, Following Russian Invasion of Ukraine
Following Russia’s invasion of Ukraine, volatility in bitcoin and ethereum prices intensified, with both falling to one-month lows on Thursday. Both have since moved away from these lows so far today, in what looks like temporal consolidation. Bitcoin As of writing, cryptocurrency markets are up by over 7% on Friday, with bitcoin trading 8% higher heading into the weekend. This comes following a low of $34,997.01 yesterday, with BTC /USD hitting an intraday high of $38,968.84 earlier in today’s session. Friday’s move sees BTC momentarily rebound, and edge closer to the key $40,000 level, which it hasn’t hit since the beginning of the week. Looking at the chart, the 14-day RSI has also tailed off slightly, and now looks to be consolidating below the 43.8 resistance. As long as prices remain between the floor of $37,240 and ceiling of $39,640, market uncertainty will likely extend. However, current sentiment seems to be more bearish, as the 10-day moving average continue