Bitcoin, Ethereum Technical Analysis: BTC Surges to $45,000, as Russia Considers Accepting the Crypto for Oil & Gas – Market Updates Bitcoin News

Bitcoin moved past its $45,000 price ceiling, after it was reported that the Russian government was considering accepting it as payment for energies. The news sent BTC to a 24-day high, whilst ETH also climbed to a five-week peak.


BTC was trading almost 5% higher on Friday, as markets reacted to the news that Russia was considering accepting it as payment for oil and gas.

How To Get Free Crypto  

Following a low of $42,753.56 during Thursday’s session, BTC/USD climbed to an intraday high of $45,046.08 on Friday.

This is the highest price bitcoin has hit in 24 days and comes following a breakout of the $42,500 resistance level.

BTC/USD – Daily Chart

Friday’s rally sees bitcoin prices climb for the fourth consecutive session, gaining over 11% in that time period.

The move pushed price strength beyond its own ceiling, as the 14-day RSI moved past its resistance level of 62.33, and now tracks at 63.83.

Should this run continue, and BTC move beyond $46,000, it would reach its highest level in almost four months.



ETH was not to be left behind on Friday, as the world’s second-largest cryptocurrency also surged to a multi-week high.

Ethereum climbed to an intraday high of $3,183.96 during today’s session, which is the highest point at which it has traded since February 10.

Coinbase Banner  

Today’s gains means that ETH has now climbed for 11 of the last 12 sessions, gaining over 15% within that period.

ETH/USD – Daily Chart

Looking at the chart, should this bullish strength persist, we could be looking at $3,300 as the price ceiling.

However, the RSI now tracks at 66.6, as it continues to hover in overbought territory, which could be an obstacle to further gains.

Tags in this story

Could we see further highs this weekend for both ETH and BTC? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

FreeBitcoin Banner  

Read disclaimer

Go to Source
Author: Eliman Dambell

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.