{"id":16213,"date":"2023-01-07T14:56:47","date_gmt":"2023-01-07T14:56:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-surge-to-start-the-weekend-following-fridays-payrolls-market-updates-bitcoin-news\/"},"modified":"2023-01-07T14:56:47","modified_gmt":"2023-01-07T14:56:47","slug":"btc-eth-surge-to-start-the-weekend-following-fridays-payrolls-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-surge-to-start-the-weekend-following-fridays-payrolls-market-updates-bitcoin-news\/","title":{"rendered":"BTC, ETH Surge to Start the Weekend, Following Friday\u2019s Payrolls \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin moved closer to the $17,000 level to start the weekend, as traders continued to react to the latest U.S. nonfarm payrolls data. December\u2019s payrolls came in at 223,000, which was better than the 200,000 markets had expected. Ethereum was also higher on Saturday, with prices nearing a three-week high.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) moved closer to the $17,000 level on Saturday, as traders continued to react to the latest U.S. nonfarm payrolls (NFP).<\/p>\n

Last month\u2019s NFP numbers came in at 223,000, which is 23,000 higher than expected, and this was in a month where the Federal Reserve increased interest rates by less than in previous months.<\/p>\n

In response to this, BTC<\/a>\/USD surged to a peak of $16,991.99 to start the weekend, hovering close to a three-week high in the process.<\/p>\n

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

As can be seen from the chart, today\u2019s rally came as the 10-day (red) moving average closed in on a crossover with its 25-day (blue) counterpart.<\/p>\n

This, as the 14-day relative strength index (RSI) also rallied, climbing above a key resistance point at 50.00<\/p>\n

Currently, the index is tracking at 52.24, with the next visible ceiling at the 55.00 mark, which is likely where bulls are targeting.<\/p>\n

Ethereum<\/h2>\n

In addition to BTC<\/a>, ethereum (ETH<\/a>) also moved higher to start the weekend, with prices moving gradually closer to $1,300.<\/p>\n

Following a low of $1,240.95, ETH<\/a>\/USD raced to an intraday high of $1,273.22, which is its highest point since December 17.<\/p>\n

Today\u2019s move comes as an upwards crossover of moving averages has recently occurred, with the 10-day (red) trend line moving higher versus the 25-day (blue) line.<\/p>\n

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

Typically such a move is a sign of current and future bullish momentum, and this could likely tempt more bulls to re-enter the market.<\/p>\n

The next target will undoubtedly be the aforementioned $1,300 ceiling, which will likely be hit once the RSI climbs past its current ceiling at 59.00.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect ethereum to climb above $1,300 this weekend? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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