{"id":12908,"date":"2022-06-23T13:49:17","date_gmt":"2022-06-23T13:49:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bullish-sentiment-returns-to-btc-following-yesterdays-sell-off-market-updates-bitcoin-news\/"},"modified":"2022-06-23T13:49:17","modified_gmt":"2022-06-23T13:49:17","slug":"bullish-sentiment-returns-to-btc-following-yesterdays-sell-off-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bullish-sentiment-returns-to-btc-following-yesterdays-sell-off-market-updates-bitcoin-news\/","title":{"rendered":"Bullish Sentiment Returns to BTC Following Yesterday\u2019s Sell-off \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Following yesterday\u2019s drop in price, bitcoin stabilized during Thursday\u2019s session, as prices hovered marginally below $21,000. Bulls are attempting to take BTC<\/a> back towards this resistance level, which was broken as a result of Wednesday\u2019s sell-off. <\/b><\/p>\n

Bitcoin<\/h2>\n

BTC<\/a> was trading marginally below $21,000 on Thursday, as prices slightly rebounded following declines on hump day.<\/span><\/p>\n

Following Wednesday\u2019s low of $19,848.08, BTC<\/a>\/USD rose to an intraday high of $20,835.75, earlier in today\u2019s session. <\/span><\/p>\n

This move comes as bulls seem set to once again break out of the current resistance at $21,100, which has been in place for the last week.<\/span><\/p>\n

\"Bitcoin,<\/a>
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Hope of a break will be increased by the fact that the 14-day RSI has moved beyond a resistance level of its own.<\/span><\/p>\n

As seen from the chart, after almost ten days of reluctance to give way, the 30.50 ceiling was finally broken.<\/span><\/p>\n

The next visible level of resistance looks to be the 36.60 point. Should we see relative strength move to this point, BTC<\/a> could be trading above $22,000.<\/span><\/p>\n

Ethereum<\/h2>\n

ETH<\/a> was also back in the green on Thursday, after appearing to overcome Wednesday\u2019s hump of uncertainty. <\/span><\/p>\n

Prices of the world\u2019s second largest crypto token rose to an intraday peak of $1,119.61, which comes less than a day after nearly dropping back below $1,000.<\/span><\/p>\n

As a result of today\u2019s rebound in price, bulls will likely attempt to maintain this momentum, with some eyeing a key resistance point.<\/span><\/p>\n

\"Bitcoin,<\/a>
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

This ceiling is at the $1,190 mark, which is the main obstacle that could prevent ETH<\/a> from moving back into $1,200.<\/span><\/p>\n

Overall, momentum seems bullish, with the Relative Strength Index tracking at its highest level in almost two weeks..<\/span><\/p>\n

As of writing, the index is tracking at 32, with the next resistance level at 35.85.<\/span><\/p>\n

Do you expect bullish momentum to increase as we head to the end of the week? Leave your thoughts in the comments below.<\/i><\/b><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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