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Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit Multi-Week Low, as Sell-off Worsens

February 10, 2023

Category:

Bitcoin

Bitcoin (BTC) extended recent declines on Friday, with prices falling below the $22,000 mark for the first time in several weeks.

BTC/USD fell to an intraday low of $21,754.13 earlier today, which comes less than 24 hours after trading at $22,770.22.

As a result of this drop, bitcoin moved to its weakest point since January 20, when the price bottomed at $20,865.

From the chart, the sell-off took place following a break out of a resistance level at $22,500, which had mostly held firm since late January.

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