Crypto prices continued to seesaw on Friday, as both bitcoin and ethereum fell into the red, after a short lived rally on Thursday. Bitcoin was once again below $40,000 during the session, while ethereum extended its recent spell of trading below $3,000.
Bitcoin (BTC) once again fell below the $40,000 level on Friday, following a short stint in the green during yesterday’s session.
Following a peak of $40,269.47 on Thursday, BTC/USD fell to an intraday low of $38,698.16 earlier today.
This comes as BTC was unable to climb above resistance of $40,500, as bullish momentum eased, which was likely a result of traders closing positions.
Now that we are back in the red, the first thought would be for how long, with some likely to be targeting the $37,570 floor as a potential exit point.
Looking at the chart, the 14-day RSI has also changed course, and is now tracking at a floor of its own marginally below 43.
If price strength were to continue to fall beyond this point, we could