Bitcoin was moving sideways on Wednesday. The crypto currency is moving back and forth in a tight range between 6340 and 6300. The 50, 100 EMAs are neutral while the EMA200 continued its downward trajectory. MACD continued its decline in the negative territory. RSI remained in the oversold area. The resistance stands at 6650, the support is at 6300.
Bitcoin is likely to continue its consolidation phase today.