It’s a rollercoaster: Bitcoin and Ethereum Technical Analysis Follows US Consumer Confidence Report

It seems we can’t go a day without the crazy prices of Bitcoin and Ethereum making headlines! The US Consumer Confidence report has just been released and, wouldn’t you know it, Bitcoins and Ethereum are making history yet again with BTC surging back above $28,000 following the news.

Why the Big Changes?

There’s no denying that there’s been a whole lot of fluctuation around both Bitcoin and Ethereum, with the two projects seeing some very dramatic changes in their technical analysis over the last few weeks. It’s important to remember that these changes can be attributed to a variety of things, but the US Consumer Confidence Report certainly had an impact on things.

What Does it Mean?

Essentially, it’s yet more proof that Bitcoin and Ethereum are definitely not going anywhere; they’re here to stay! The report showed that consumer confidence levels rose unexpectedly to the highest level in more than 17 years, furthering the idea that the wider economy is improving and that cryptocurrency is a viable alternative to traditional investments.

Will the Good News Last?

Unfortunately, the nature of Bitcoin and Ethereum is such that nobody can really be sure when the upswings of good news will end and when the dips in technical analysis will begin. All we can do is try to use the information we have to our advantage and look to the future with optimism.

What Should You Do?

When it comes to Bitcoin and Ethereum, it’s essential that you keep a level head and do your own research. Every investment should be considered as a long-term decision and it’s important to remember that these markets can be quite volatile. With that said, here are a few key tips to help you make the most of the current situation:

  • Be Ready to Adapt – the market is constantly changing and it’s important to be able to recognize when it’s time to make a move.
  • Do Your Research – don’t just follow the advice of others, make sure you’re doing your own research to be sure you’re taking the right decisions.
  • Have Fun – cryptocurrency is a wild ride, but with the right attitude you can enjoy it and make a profit too!

At the end of the day, the US Consumer Confidence Report has definitely had an effect on the technical analysis of both Bitcoin and Ethereum, making it yet another exciting day in the digital currency markets. Keep your head up and stay positive – you never know what’s around the corner!