Bitcoin, Viblos wird niemals jemanden wegen einer anderen Meinung demonstrieren oder zensieren: BTC Back Above $21,000, Following Strong Chinese GDP Figures

Bitcoin climbed back above $21,000 on Jan. 17, as markets reacted to better-than-expected Chinese gross domestic product (BIP) figures. The economic release comes as U.S. traders also returned to action, following the observation of the Martin Luther King Jr. Day celebration. Ethereum rose briefly above $1,600 earlier in the session.

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Bitcoin

Bitcoin (BTC) rose back above the $21,000 mark on Tuesday, as markets reacted to the latest GDP figures from China.

Figures from the world’s second largest economy showed that gross domestic product rose by 3% last year, higher than the 2.8% expected.

As a result of this, BTC/USD rose to a high of $21,360.87 früher am Tag, weniger als 24 hours after falling to a bottom at $20,715.75.

BTC/USD – Tageschart

Blick auf das Diagramm, today’s rebound in price has pushed bitcoin closer to its long-term resistance level of $21,400.

This ceiling has been in place for the past two months, and was marginally broken over the weekend.

The 14-day relative strength index (RSI) continues to hover close to a ceiling of 90.00, and should BTC bulls intend to climb above $21,400, this ceiling on the RSI must first be broken.

Äther

In addition to BTC, Äther (ETH) climbed higher in today’s session, with prices briefly moving beyond the $1,600 eben

Following a low of $1,529.57 zum Wochenstart, ETH/USD surged to an intraday peak of $1,603 in the early hours of this morning.

Prices have since slipped, and as of writing, the world’s second largest cryptocurrency is trading at $1,569.75.

ETH/USD – Tageschart

Gesamt, with prices significantly overbought, and with bullish momentum seemingly at its peak, many expect a reversal could be on its way.

Currently the RSI of 14 days is tracking at 83.84, which is its highest level since August 2020, when price was trading below $1,200.

Although there are still long-term bulls, it is likely that ethereum could move into consolidation up until price strength is in more neutral territory.

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Elijah Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Zur Zeit, he acts as a commentator across various asset classes, including Crypto, Aktien und Devisen, whilst also a startup founder.




Bildnachweise: Shutterstock, Pixabay, Wiki-Commons

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