BTC hovers below $20,000 on July 4th.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Hover at Key Support Levels to Start Week
Bitcoin continues to hover below $20,000 to start the week, as U.S. markets were mainly closed due to the Independence Day celebrations. This past weekend’s volatility carried forward into Monday’s session, withBitcoin started the week in the red, as the world’s largest crypto token continues to hover below $20,000./USD dropped to an intraday low of $18,971.81 on Monday.
As a result of this move, bitcoin continued to trade close to its support point of $18,800, with bears still targeting further lows.Looking at the chart, there is currently a lower floor at $17,700, which may be the next destination for prices, should momentum continue on its downward trend. However, there is one notable obstacle in the way of this move, that being of the 14-day RSI which is currently tracking at a support of its own.
This is at the 28.60 level, and it is a support that has held firm for the past two weeks. Should this eventually give way, however, then more bears will likely enter the market.
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