Bitcoin Rebounds, as Russia Looks to Regulate Crypto – Bitcoin News - BitcoinEthereumNews.com
Following price consolidation on Tuesday, bitcoin prices rebounded on hump-day, as markets reacted to the news that Russia will regulate, and not ban, crypto. Bitcoin Bitcoin was marginally higher on Wednesday, as the worlds largest cryptocurrency received a boost from the news surrounding Russia. BTC/USD rose to an intraday high of $44,312.45 during today‘s session, as bulls re-entered the race following yesterday’s consolidation The move has seen prices head closer to the $45,000 level, however bitcoin will first need to overcome resistance at $44,800. Still, following the upside crossover of the moving averages of ten days (red) and 25 days (blue), many believe it is inevitable that prices will make a run to $50,000. बीटीसी / यूएसडी - दैनिक चार्ट This may be a bull trap, as the 14-RSI suggests otherwise, currently tracking at 63.5, which is not only in overbought territory, but also the highest level it has recorded since November. Many believe that the ceiling for price strength could be 68 on a daily chart, which may dent hopes for longer-term bulls, at least for now. Ethereum Ethereum was approaching a three-week high during Wednesdays session, as prices moved closer to their long-term resistance of $3,400. ETH/USD rose to an intraday high of $3,163.40 on Tuesday, as bulls bought