Bitcoin, Ethereum Technical Analysis: BTC, ETH Slip Ahead of US Consumer Confidence Report
Bitcoin and ethereum were trading lower on Feb. 28, as markets anticipated the release of the upcoming U.S. consumer confidence report. The data, which is for February, is expected to show a slight increase in confidence for the month. This will likely result in the Federal Reserve maintaining its rate hike policy next month. Bitcoin Bitcoin (BTC) fell for a second straight session on Tuesday, as prices flirted with a breakout below $23,000. BTC/USD moved to an intraday low of $23,205.88 earlier in today’s session, which comes less than 24 hours after hitting a high of $23,857.89. The move comes after bulls were unable to jump back above the $24,000 mark on Monday, with bears using this as an opportunity to reenter. BTC/USD – Daily Chart Looking at the chart, the 14-day relative strength index (RSI) also failed to break out of a resistance of its own at 53.00 At the time of writing, the index is trading at 52.46, with bitcoin slightly higher than its earlier low. B...