Bitcoin, Ethereum Technical Analysis: BTC Below $19,000 Following FOMC Minutes
Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes , while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in to day’ ;s session. Bitcoin Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which inflation has risen, whilst also signaling the prospect of upcoming rate hikes. As a result of the report, BTC/USD fell to an intraday low of $18,642.11, after a brief rally in yester day’ ;s session. BTC/USD – Daily Chart Today’s sell-off takes the token to its lowest point since September 28, and close to a support of $18,600 in the process. Looking at the chart, the 14-day relative strength index (RSI)