Bitcoin, Ethereum Technical Analysis: BTC Briefly Above $17,000 Ahead of US Consumer Confidence Report

Bitcoin was concisely trading supra $17,000 connected Wednesday, arsenic markets prepared for the merchandise of the upcoming U.S. user assurance report. Today’s fig is expected to travel successful astatine a speechmaking of 101.00 for December, which is higher than past month’s fig of 100.2. Ethereum was besides successful the green, arsenic it neared a cardinal absorption level.

Bitcoin

Bitcoin (BTC) roseate concisely supra the $17,000 level connected Wednesday, arsenic markets began to expect the merchandise of the upcoming U.S. user assurance report.

Following a debased of $16,763.66 connected Tuesday, BTC/USD raced to an intraday precocious of $17,012.98 earlier successful today’s session.

Today’s surge comes arsenic prices erstwhile again roseate supra a cardinal absorption level astatine the $16,800 level.

BTC/USD – Daily Chart

Looking astatine the chart, BTC has moved distant from earlier highs, with the coin presently trading astatine the $16,868.40 mark.

This comes contempt the 14-day comparative spot scale (RSI) failing to interruption retired of a caller ceiling astatine 49.00.

As of writing, the scale is tracking astatine the 47.03 level, and seems to beryllium heading for a level astatine 46.00.

Ethereum

Ethereum (ETH) continued to commercialized supra $1,200 connected Wednesday, with bulls pushing prices person to a cardinal absorption level.

ETH/USD deed a highest of $1,224.09 earlier successful today’s session, which comes little than 24 hours aft hitting a bottommost of $1,206.44.

Despite prices nearing a ceiling astatine the $1,230 people earlier successful the day, bearish sentiment has accrued astatine this level, starring to erstwhile bulls retreating.

ETH/USD – Daily Chart

As of writing, the world’s 2nd largest cryptocurrency is trading astatine $1,214.44, which comes pursuing a caller crossover of moving averages.

Looking astatine the chart, a downward transverse betwixt the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is simply a motion of pending declines.

Should this momentum intensify successful the coming days, ETH could apt determination backmost towards a level of $1,160.

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Will today’s user assurance study nonstop crypto prices higher? Leave your thoughts successful the comments below.

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