Bitcoin, Ethereum Technical Analysis: BTC Moves Higher, as Traders Prepare for Next Week’s Fed Meeting

Bitcoin edged marginally higher connected Friday, arsenic traders began to displacement their attraction to adjacent week’s Fed meeting. Many are expecting that the Federal Reserve volition support rates unchanged for the archetypal clip successful implicit a year. Ethereum remains supra a level astatine $1,830.

Bitcoin

Bitcoin (BTC) moved marginally higher during Friday’s session, arsenic the absorption for traders begins to beryllium adjacent week’s Fed complaint decision.

Following a debased of $26,339.32 connected Thursday, BTC/USD jumped to an intraday highest of $26,797.51 earlier today.

The determination comes arsenic bulls bounced from a terms level astatine $26,300, with a ceiling astatine $27,200 present a imaginable target.

In bid to get person to this point, the 14-day comparative spot scale (RSI) volition request to determination past a ceiling astatine 47.00

At the clip of writing, the scale is tracking astatine 46.21, with bitcoin trading astir the $26,600 level.

Despite the optimism from bulls, the 10-day (red) moving mean remains successful a downtrend, pursuing a transverse with its 25-day (blue) counterpart.

Ethereum

In summation to bitcoin, ethereum (ETH) recorded immoderate tiny gains connected Friday, aft colliding with its ain enactment point.

ETH/USD climbed to a highest of $1,861.14 successful today’s session, which comes little than 24 hours aft falling to a bottommost astatine $1,831.26.

Unlike bitcoin, the moving averages person yet to cross, which provides optimism to longer-term bulls of imaginable upcoming gains.

The adjacent people appears to beryllium the 52.00 mark, and should this beryllium hit, ethereum volition apt beryllium supra $1,900.

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