Bitcoin Technical Analysis: to day 10.05.2023
Bitcoin Technical Analysis: to day 10.05.2023
Admin 14 Aug, 2022

Bitcoin continued to consolidate on Thursday, ahead of the upcoming U.S. nonfarm payrolls (NFP) report in the United States. Payrolls are expected to come in at 170,000 for September, down from 187,000 the month prior. Ethereum fell for a fourth straight day.


Bitcoin (BTC) continued to trade close to a key price ceiling on Thursday, ahead of tomorrow’s NFP report.

BTC/USD peaked at $27,875.59 earlier in the day, which comes following a low of $27,339.27 the day before.

The move pushed bitcoin closer to a recent resistance level of $27,900, however bulls were unable to capture this point.

Bitcoin, Ethereum Technical Analysis: BTC Approaches Key Price Ceiling Ahead of Friday's US Payrolls ReportBTC/USD – Daily Chart

Earlier gains have since faded, which comes as the relative strength index (RSI) encountered some turbulence of its own.

At the time of writing, the index is at a reading of 60.21, which is marginally below a ceiling at 63.00

Should this decline continue, price strength could land at a floor of 58.00 in the not-too-distant future.