Crypto prices consolidate, Bitcoin regains support at $30k

- Cryptocurrency prices consolidated in trading on Wednesday as a lull in major developments provided traders with time to reassess the state of their portfolios and rebalance their positions accordingly.

Data from TradingView shows that Bitcoin traded within a tight range between $29,855 and $30,264, with neither bulls nor bears gaining the upper hand as traders await the next market-moving development.Kitco senior technical analyst Jim Wyckoff noted that “August Bitcoin futures prices [were] slightly up in early U.S. trading Wednesday, after hitting a four-week low on Tuesday.”“Trading has turned sideways and choppy, with the bulls fading just a bit now,” Wyckoff said.

When it comes to the weekly time frame for BTC, Foppen noted that there were some developments he would like to see before entering any new trades.

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