Bitcoin Ethereum Technical Analysis: BTC Consolidates Below $31000 Following Prime Trust Liquidation
After briefly rising above $31,000, bitcoin consolidated on Wednesday, as bulls moved to secure recent gains. The uncertainty came as crypto custodian Prime Trust entered receivership, after being found to be illiquid by authorities. Ethereum also declined, once again falling below $1,900. Bitcoin Bitcoin ( BTC ) consolidated on Wednesday, as traders opted to secure profits following a recent bull run. BTC /USD broke out of a key resistance level at $30,800 on Tuesday, on its way to a peak at $31,006.79 late in yesterday’s session. However, take profit orders seemed to have been triggered, with bitcoin dropping to an intraday low of $30,169.78 today. Bitcoin chart by TradingView As mentioned yesterday, the relative strength index (RSI) was approaching a ceiling at 73.00, and it appears that bulls were unable to move beyond this point. The index is now tracking at the 66.45 mark, which comes after price strength was unable to stop at a support level at 68.00. Should this dow