Bitcoin is trading near a support point of $29,000, ahead of today’s U.S. nonfarm payrolls (NFP) report. It is expected that 200,000 jobs were added to the economy last month, down from 209,000 in June. Ethereum was marginally lower on Friday.
Bitcoin
Bitcoin (BTC) consolidated around the $29,000 level on Friday, as traders readied themselves for the upcoming U.S. nonfarm payrolls report.
BTC/USD rose to an intraday high of $29,375.71 in today’s session, following an earlier low of $29,066.24.
Earlier gains have since faded, however, with the world’s largest cryptocurrency now trading at the $29,145.77 mark.
Bitcoin chart by TradingView
The decline comes as the relative strength index (RSI) fell back towards a support point of 42.00.
After hitting a ceiling above 51.00 in recent days, price strength is now tracking at a reading of 43.71.
There is still optimism that bulls could reenter the market after today’s report, with the $29,500 level an initial target.
Ethereum
Ethe
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