At the reporting time, Bitcoin [BTC] is presently holding support around $33.9k and is down about 6.91% over the past week. The cryptocurrency had a choppy trading session within the Asia hours and is stuck in a tight range since June. Initial resistance is seen at $36k as short-term buyers still take profits.
A series of lower price highs over the past fortnight has prevented bitcoin from reaching $40k, which is the top of the trading range.
Minor support is seen at $33k, which is near the 100-day moving average on the 4-hour chart.
Bitcoin also features a series of upper price lows from the 22nd June shakeout around $29k. Lower price highs and better prices lows reveal a period of consolidation as buyers and sellers are undecided about future price direction.
The RSI [Relative Strength Index] is broadly neutral after reaching overbought levels on 4th July, which preceded a pullback in price.