BTC ETH bulls cautious despite encouraging comments from Elon Musk.
Bitcoin, Ethereum Technical Analysis: BTC Continues to Consolidate, Despite Encouraging Comments From Elon Muskwere once again consolidating to start the week, despite bullish comments from Elon Musk. In a tweet earlier today, Musk said: “I still own & won’t sell my Bitcoin, Ethereum or Doge.” Although prices marginally rose, they remain close to recent support levels.
Today’s high comes as markets failed to break out of the floor of $37,600, which was held, as price strength also found a floor.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.will likely continue to consolidate between $37,600 and $39,500.
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