Bitcoin rebounded from a one-month low Tuesday, as markets prepare for the upcoming U.S. consumer confidence report. The confidence index is expected to increase to a reading of 111.5 in July, up from 109.7 the month prior. Ethereum also bounced higher, after colliding with a key price floor.
Bitcoin
After dropping to a one-month low to start the week, bitcoin (BTC) rebounded in today’s session.
BTC/USD jumped to a peak at $29,327.86 earlier in the day, following Monday’s drop to a bottom of $28,934.29.
Bitcoin bulls rejected the pressure to settle at a support point of $28,800, and now seem to be targeting a ceiling of $30,000.
One reason why the price appears to have stabilized is the relative strength index (RSI), which found a floor of its own around 42.00.
At the time of writing, price strength is tracking at 41.90, with the next point of support around the 37.00 mark.
Currently, it appears that price will remain marginally stable above $29,000, however this could change follo
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