Bitcoin’s downturn continued on Friday, as prices fell for a third consecutive session, leading to a move below $28,000. Market sentiment has shifted in recent days, as traders began taking profits from last week’s high. Ethereum was also lower, and is now trading around the $1,900 region.
Bitcoin
Bitcoin (BTC) moved lower for a third consecutive session on Friday, as prices slipped below the $28,000 mark.
Following a high of $28,906.25 on Thursday, BTC/USD dropped to an intraday low of $27,855.96 earlier in the day.
As a result of this move, bitcoin fell to its weakest point since April 9, which is the last time price hit a floor of $27,800.
Bitcoin chart by TradingView
Since nearing this point, BTC bulls have reentered the market, and have pushed price back above $28,000.
One of the catalysts for today’s drop came as the 14-day relative strength index (RSI) fell to a floor of its own at 46.00.
The index has marginally risen from this low, and is tracking at 46.35 at the tim
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