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Bitcoin, Ethereum Technical Analysis: Volatility in BTC, ETH Remains High to Start the Week

March 6, 2023


Bitcoin (BTC) started the week in consolidation, ahead of a key week of economic data from the United States.

Following a high of $22,497.00 on Sunday, BTC/USD slipped to an intraday low of $22,331.31 earlier in the session.

As a result of the move, the world’s largest cryptocurrency sank closer to a recent support point at the $22,300 zone.

Overall, the recent rise in bearish sentiment has caused bitcoin to fall by as much as 5% in the last seven-day period.

A downward crossover between the 10-day (red), and 25-day (blue) moving averages has also transpired, which could be a sign of further sell-offs to come.