BTC Back Above $20,000, USD Hits 2-Week Low – Market Updates Bitcoin News

Bitcoin reached $20,000 again on Tuesday after the U.S. Dollar fell to its lowest in 2 weeks relative to several G7 currencies. This stronger dollar has had an impact on the purchasing power of cryptocurrencies as well as commodities such crude oil which fell to its lowest point in nine months last week. Ethereum saw a 5 day high.


As the U.S. Dollar continued its decline against other major currencies, Bitcoin (BTC), briefly rose to $20,000 Tuesday.

This has resulted in the world’s largest cryptocurrency climbing to a peak of $20,071.20 earlier in today’s session.

Today’s high is the strongest point that BTC/USD has traded at since September 30, and is marginally below a ceiling of $20,200.

BTC/USD – Daily Chart

The chart shows that earlier bulls pulled out of the market when BTC approached the resistance.

The rally started after a break of an additional point of uncertainty. This was the ceiling at 49.00 on relative strength index (RSI).

The index now tracks at 52.22. That is slightly less than the resistance level of 53.00. BTC seems to have fallen further from its initial high.


Like BTC, ethereum (ETH) also rose to a five-day high in today’s session, moving above a key resistance level in the process.

Following an initial low of $1294.41 at the beginning of the week, ETH/USD rose to an intraday peak of $1355.89 just a few hours earlier.

Ethereum broke through its $1,330 ceiling, and the 14-day RSI moved beyond a point resistance.

ETH/USD – Daily Chart

The indicator surpassed its ceiling of 41.50 to show that it is now tracking at 44.82.

This is the highest reading since September 15, 2015, when ETH traded at a high price of $1.470.

The RSI needs to surpass the upcoming ceiling of 45.00 in order to return to those levels.

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Is it possible that ethereum will reach $1,400 by the end of today? Please leave your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and retail trade educator. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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