Bitcoin and ETH consolidated on Thursday, as markets continue to anticipate next week's FOMC meeting.
was back in the green on Thursday, as bulls bounced back following yesterday’s drop, which sent prices to a one-month low./USD trade at a bottom of $38,555.90, however the momentum swung today, with prices hitting an intraday high of $39,798.51.
This rebound saw the world’s largest cryptocurrency move past its long-term resistance level of $39,700, prior to tailing off.Gains eased as historic uncertainty crept up on bulls, with some opting to take profits for now, rather than attempting to break through $40,000. Looking at the chart, the 14-day RSI also broke through its own resistance of 43, after a brief stint below 40, and is now tracking towards a higher ceiling of 45 .
Today’s bulls, who have not given up earlier positions, will likely look at that 45 RSI level as an ideal point to exit, when price will likely be above $40,000.
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