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Bitcoin, Ethereum Technical Analysis: BTC, ETH Move Past Key Resistance Levels on Tuesday

October 18, 2022


Bitcoin moved to its highest point in five days on Tuesday, as bearish sentiment began to gradually fade.

BTC/USD hit an intraday high of $19,667.00 earlier in today’s session, which follows up from Monday’s bottom of $19,427.00.

The move saw price climb beyond a key resistance point of $19,550, hitting its strongest point since Friday in the process.

Looking at the chart, today’s move comes as the 14-day relative strength index (RSI) continues to trade above its ceiling of 48.50.

As of writing, the index is tracking at 51.18, however, some earlier bulls have liquidated their positions, with prices now trading slightly lower at $19,584.52.