BTC Continues to Consolidate, Despite Encouraging Comments From Elon Musk – Market Updates Bitcoin News - BitcoinEthereumNews.com
Bitcoin and ETH were once again consolidating to start the week, despite bullish comments from Elon Musk. In a tweet earlier today, Musk said: “I still own & wont sell my Bitcoin, Ethereum or Doge.” Although prices marginally rose, they remain close to recent support levels. Bitcoin The worlds largest cryptocurrency rebounded from its support level to start the week, however it still remained below $40,000. Following a low of $37,680.73 on Sunday, BTC/USD has so far risen to an intraday high of $39,234.62 on Monday. Todays high comes as markets failed to break out of the floor of $37,600, which was held, as price strength also found a floor. BTC / USD - กราฟรายวัน As of writing, the 14-day RSI is under its own resistance point of 47, following a failed break of the 43.61 support. This level was the lowest the RSI has tracked since March 8, and has historically been a point at which bulls begin to pressure bears. However, until we see a true breakout of the current ceiling of 47, BTC will likely continue to consolidate between $37,600 and $39,500. Ethereum The consolidation of ETH was even more evident to start the week, as prices marginally slipped below recent support. ETH/USD hit an intraday low