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Bitcoin, Ethereum Technical Analysis: BTC, ETH Start Week Lower, Ahead of Key Economic Events

May 1, 2023


Bitcoin (BTC) continued to trade lower on Monday, as markets remained in consolidation ahead of a pivotal week of economic events.

Following a high of $29,952.03 on Sunday, BTC/USD slipped to an intraday low of $28,360.50 earlier today.

This move saw bitcoin briefly fall below a key support point at $28,500, hitting its lowest point since April 27 in the process.

Overall, bitcoin remains nearly 4% higher than at the same point last week, when prices were close to the $27,000 mark.

As a result of today’s sell-off, the relative strength index (RSI) has dropped to a floor of its own at 50.00.