Crypto markets were slightly lower than on Dec. 6 as traders await the release of the US Non-Farm Payrolls report. The December report will show that the US economy has added 200,000 jobs, which would be less than November’s figure of 263,000 and Bitcoin was also slightly down from its pre-release level.
Bitcoin
Bitcoin (BTC) remained slightly below $17,000 on Friday as investors consolidated in anticipation of the US latest Non-Farm Payrolls (NFP) results. The economy is expected to see an increase of 200,000 jobs, which is a decrease from the previous report of 263,000.
Prior to the data release, BTC/USD had plunged to $16,738.90. This was below the key $16,800 support level.
Looking at the chart, the 14-day Relative Strength Index (RSI) has continued its fall. It failed to break the 51.00 level at the top.
At the time of writing, it stands at 47.24 and appears to be heading towards a support level of 43.00.
The 10-day moving average (red) could move closer to its 25-day counterpart (blue) if a stronger NFP number is reported.
Ethereum
Ethereum (ETH) was also slightly lower on Friday as it attempted to maintain above a key support level. The session saw the ETH/USD drop to $1,242.63 below its previous low of $1,255.42.
ETH managed to remain above the $1,230 mark, despite today’s decline.
