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Bitcoin, Ethereum Technical Analysis: BTC Consolidates Around $30,000, Ahead of US Inflation Report – Market Updates Bitcoin News

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BTC consolidates ahead of key U.S. inflation report.

) consolidated around the $30,000 mark on Wednesday, as markets anticipated the release of the upcoming inflation figures from the United States./USD fell to an intraday low of $29,865.20, which comes less than 24 hours after trading at a high of $30,509.08.

This comes following a strong surge in price on Tuesday, which saw bitcoin climb to its highest point in ten months.Overall, sentiment in the market is mostly higher, which comes after consumer prices in China fell to an 18-month low. Today’s marginal decline in price has pushed the relative strength index back towards a support point at 68.00.

The index is currently tracking at 68.89, and should it remain above the aforementioned 68.00 mark, there is a good chance that

 

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