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Bitcoin, Ethereum Technical Analysis: BTC Moves Below $23,000 as Market Volatility Heightens

February 9, 2023

Category:

Bitcoin

Bitcoin (BTC) slipped to a two-week low on Thursday, with prices falling below $23,000 in the process.

Following a high of $23,191.32 on hump-day, BTC/USD plunged to an intraday low of $22,458.26 in today’s session.

The decline sent bitcoin to its lowest level since January 26, and came as prices broke out of a key support point at $22,500.

As can be seen from the chart, the sell-off came as the 14-day relative strength index (RSI) fell to a one-month low, after moving below a floor of its own.

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