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Bitcoin, Ethereum Technical Analysis: BTC Falls Below $24,000 Ahead of FOMC Minutes 

February 22, 2023

Category:

Bitcoin

Bitcoin (BTC) extended recent declines on Wednesday, as markets began to anticipate the upcoming FOMC minutes report.

Today’s report will shed light on the Federal Reserve’s current view of the U.S. economy, in light of last month’s 25-basis-point hike.

As a result, BTC/USD fell to an intraday low of $23,902.54 on hump-day, less than 24 hours after hitting a high of $24,824.10.

The decline comes following two breakouts, first the 14-day relative strength index (RSI) moving below a support point at 61.00, plus prices falling under $24,200.

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