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Bitcoin, Ethereum Technical Analysis: ETH Back Above $2,100, as BTC Rebounds From 1-Week Low

April 18, 2023


Bitcoin (BTC) rebounded from a one-week low on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China.

BTC/USD dropped to a low of $29,154.85 earlier in today’s session, before climbing to a peak of $29,944.78 as the day matured.

The low sent bitcoin to its lowest point since April 10, which is when price was last below $29,000.

Looking at the chart, the rebound has come as the 14-day relative strength index (RSI) bounced from a floor of 59.00.

Currently, price strength is tracking at the 61.91 mark, with the next visible ceiling at the 65.00 level.