Bitcoin (BTC) extended its winning streak to a seventh consecutive session on Tuesday, reaching an intraday high of $22,650.73 — its highest level since August 19. The rally comes ahead of the U.S. inflation report, which is expected to show the August CPI dropping to 8.1% from 8.5% in July.
Technicals: Golden Cross but RSI Hits Resistance
Bitcoin's sustained upward momentum has triggered a bullish crossover between the 10-day (red) moving average and the 25-day (blue) moving average. However, the 14-day Relative Strength Index (RSI) is now testing key resistance at 61.80. Although the index has marginally broken above to 62.57, this level historically attracts sellers. If the RSI fails to hold, a pullback could follow.
Ethereum: Volatility Persists, Merge Hopes Remain
Ethereum (ETH) continued to trade with high volatility on Tuesday, briefly dipping below the $1,700 support to $1,682.43. Bulls quickly stepped in, pushing the price back to $1,740.88, with a session peak of $1,752.76. The RSI has fallen back below the 59.55 ceiling seen at the start of the week, indicating lingering bearish sentiment.
Despite this, many traders expect The Merge to drive Ethereum above $1,800 in the coming days. The 10-day and 25-day moving averages are also nearing a crossover, which could provide additional upside. The market remains focused on the CPI release and the potential for sharp moves amid the Merge transition.