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Bitcoin, Ethereum Technical Analysis: BTC Hits Highest Point Since September – Market Updates Bitcoin News

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BTC surges to strongest point since September, ahead of U.S. retail sales data.

) rose above a key resistance level at $21,400 in today’s session, hitting a fresh multi-month high in the process./USD raced to a peak of $21,438.66 in the early hours of Wednesday’s session.

This surge in price saw the world’s largest cryptocurrency climb to its strongest point since September 13.The move comes as markets prepare for the release of U.S. retail sales figures, which are expected to decline to -0.8%, from -0.6%. From the chart, price strength continues to hover in overbought territory, with the 14-day relative strength index tracking at 87.92.

The next visible point of resistance is at the 90.00 mark, which could pose a challenge for longer-term bulls.

 

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Bitcoin remains firmly under 21K, looking determined to reach a new bottom of 21.5K.

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