Bitcoin, Ethereum Technical Analysis: BTC Plunges Under $27,000, Hitting 7-Week Low – Market Updates Bitcoin News

📆 5/12/2023 4:06 PM
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BTC plunges to 7-week low, after falling below $27,000 on Friday.

/USD slipped to a low at $1,742.40 on Thursday, following an earlier peak of $1,835.62 the day prior.

Similar to bitcoin, today’s drop in price saw the world’s second largest cryptocurrency hit its lowest point since March.A major catalyst to the move was also a breakout on the RSI, which fell out of a support point at the 44.00 zone.traded below $1,500. Ultimately, this could be a long-term positive for bulls, who may move to buy the current dip in price.Tags in this story

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