Following a volatile week of trading, price uncertainty in BTC and ETH continued on Friday.
Following a volatile week of trading, the uncertainty in cryptocurrency markets continued on Friday. Overall, the global crypto market cap was almost 2% lower during the session.Thursday’s volatility extended into today’s session, with bitcoin prices continuing to consolidate near its recent support level of $35,600.00./USD fell to an intraday low of $35,629.28 on Friday, following a high of $37,423.99 earlier in the session.
The move comes as bitcoin appears to be trading within a range of support and resistance , in other words consolidating, after recent swings in price. Typically, when we see a trending market, bullish or bearish, prices begin to move with uncertainty when early entrants exit, and take profits, whilst later entrants look to capitalize on the recent trend, by longing or shorting.
When this happens, prices tend to trade sideways, as markets have no clear direction, which seems to be the case withFriday’s chart shows that the RSI has slightly crept over 30, and is tracking at 32, however bulls still appear hesitant to re-enter the market.
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