BTC reaches a new 3-week high market tactualizations before the US inflation report on Thursday

Bitcoin raced on Wednesday for a new multi-week high when the markets paid their attention to tomorrow's US inflation rates report. The report from Thursday is expected to show that consumer prices have fallen from 7.1 % to 6.5 % in the previous month. Ethereum also rose slightly higher during the day.

Bitcoin

bitcoin ( Bitcoin ) on Wednesday before the US inflation report.

after a low of 17,226.64 $ on Tuesday Bitcoin /usd rast at the beginning of today's session at a maximum of $ 17,493.32

As a result of the move, the world's largest cryptocurrency climbed to its strongest point since December 15th.

If you look at the chart, today's price increase when the 14-day relative strength index (RSI) broke out over a resistance point of the brand of 60.00

The index currently notes at 63.80. This comes as Bitcoin continues to hover around the brand from

In order to approach the $ 18,000 zone, the RSI must first go beyond an upper limit of 64.00 at the RSI.

ether

uther ( eth ) was also slightly higher in today's session, the prices are still under a long-term upper limit

ETH /USD earlier a high of $ 1,342.76, less than 24 hours after trading in a low of 1,324,97 $.

Overall, Ethereum remains below a resistance point of $ 1,350, where many expect prices to move after tomorrow's publication of the US inflation.

As can be seen from the chart, the consolidation is below this price limit, since the RSI continues to act under its own hurdle.

The price strength is now at the level of 68.73, which is below a resistance point at the 70.00 mark.

ETH bulls probably still aim at a movement above 1,400 US dollar, but first the RSI level of 70.00 must be overcome.

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Will cryptocurrency prices increase after the number of inflation is published? Leave your thoughts in the comments below.

Eliman Damell

Eliman brings an eclectic point of view to the market analysis. Previously, he was a brokerage director and online trading instructor. He currently acts as a commentator for various investment classes, including crypto, stocks and foreign exchange, and is also the founder of a startup.

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