Bitcoin, Ethereum Technical Analysis: BTC Higher, as SEC’s Gensler Says Around 10 ETFs Are Being Reviewed

Bitcoin edged somewhat higher connected Thursday, pursuing comments from the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. Gensler said the committee was presently reviewing 8 to 10 applications from firms looking to motorboat a bitcoin exchange-traded-fund (ETF).

Bitcoin

Bitcoin snapped a two-day losing streak connected Thursday, arsenic markets reacted to comments connected spot bitcoin ETFs from SEC Chair Gensler.

BTC/USD peaked astatine $28,566.75 connected the news, pursuing a debased of $28,174.25 during Wednesday’s session.

Today’s determination comes arsenic bitcoin bulls pushed terms backmost supra a caller level astatine the $28,200 level.

Looking astatine the chart, the bounce comes arsenic the 14-day comparative spot scale (RSI) jumped astatine a enactment constituent of its ain astatine 63.00.

Currently, the scale is tracking astatine 64.35, which is marginally beneath the adjacent constituent of absorption astatine 65.00.

In bid for bullish momentum to intensify, this ceiling volition archetypal request to beryllium breached successful the coming hours oregon days.

Ethereum

Ethereum (ETH) connected the different hand, fell for a 3rd consecutive session, arsenic the cryptocurrency collided with a semipermanent floor.

After hitting a precocious astatine $1,580.26 connected Wednesday, ETH/USD plunged to an intraday debased of $1,543.59 earlier today.

The determination saw the world’s 2nd largest cryptocurrency adjacent successful connected a enactment constituent astatine the $1,540 mark.

This comes arsenic the 10-day (red) moving mean continued to inclination lower, and widen its downward transverse with the 25-day (blue) inclination line.

The past clip bears forced a breakout beneath the aforementioned floor, ethereum went connected to autumn to a seven-month low.

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Do you expect this level to beryllium breached successful the coming days? Leave your thoughts successful the comments below.