Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision

Bitcoin fell beneath the $28,000 level connected Tuesday, arsenic markets continued to hole for tomorrow’s Federal Reserve involvement complaint decision. The Fed is expected to summation rates by 0.25%, contempt the U.S. system slowing down. Ethereum besides remained lower, moving adjacent to a breakout beneath $1,800.

Bitcoin

Bitcoin (BTC) dropped beneath $28,000 connected Tuesday, arsenic markets prepared for the upcoming Federal Open Market Committee (FOMC) decision.

BTC/USD slipped to an intraday debased of $27,680.79 earlier successful today’s session, which came little than 24 hours aft trading astatine a precocious of $28,626.28.

As a effect of this move, bitcoin astir collided with its caller terms level astatine $27,600, hitting a six-day debased successful the process.

BTC/USD – Daily Chart

Looking astatine the chart, the latest diminution comes arsenic the comparative spot scale (RSI) moved beneath a level of its ain astatine 50.00.

At the clip of writing, the scale is tracking astatine 46.17, with the adjacent disposable constituent of enactment astatine 43.00.

Bitcoin has since moved backmost supra $28,000, and is presently trading astatine $28,176.91.

Ethereum

Ethereum (ETH) was besides little successful today’s session, with prices besides falling to a cardinal level of support.

Following a precocious of $1,851.19 to commencement the week, ETH/USD plunged to a bottommost astatine $1,809.19 earlier successful the day.

Today’s driblet saw the world’s 2nd largest cryptocurrency determination beneath its semipermanent terms level astatine $1,830.

ETH/USD – Daily Chart

ETH has since rebounded from this floor, arsenic sentiment remained comparatively stable, contempt the earlier decline.

This happened contempt the RSI trading nether a enactment constituent of its ain astatine 45.00, with a existent speechmaking of 44.30.

There could beryllium much moves connected Wednesday pursuing the Fed decision, with a imaginable determination supra $1,900 inactive connected the cards.

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Will the Fed rise involvement rates tomorrow? Leave your thoughts successful the comments below.

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