Bitcoin, Ethereum Technical Analysis: BTC Moves to 5-Month High, as ETH Nears $1,700

Bitcoin, Ethereum Technical Analysis: BTC Moves to 5-Month High, as ETH Nears $1,700


Bitcoin surged to a five-month high to start the weekend, as bullish sentiment returned to cryptocurrency markets. Prices of the world’s largest digital currency rose above $23,000, rebounding from a recent drop towards $20,000. Ethereum also rallied, as it hit its strongest point since September.

Bitcoin

Bitcoin (BTC) raced past the $23,000 level to start the weekend, with prices climbing to a multi-month high.

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Following a low of $20,961.21 on Friday, BTC/USD climbed to an intraday peak of $23,249.89 earlier today.

Today’s rally saw bitcoin jump to its highest level since August 24, when price at the time was trading at a top of $23,600.

As can be seen from the chart, the move comes as the 14-day relative strength index (RSI) moved back towards

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