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Bitcoin, Ethereum Technical Analysis: BTC Below $16,000 Amid Increased Market Volatility

November 21, 2022

Category:

Bitcoin

Bitcoin (BTC) slipped below $16,000 to start the week, as volatility in cryptocurrency markets continued to rise.

Following a high of $16,590.42 on Sunday, BTC/USD dropped to an intraday low of $15,943.14 earlier today.

The move pushed the world’s largest cryptocurrency to its lowest point since November 14, when prices fell below a key support point of $16,200.

Looking at the chart, BTC continued to trade below this point of support in today’s session, with the 14-day relative strength index (RSI) also hovering near a floor of its own.

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