Bitcoin (BTC) moved back below the $31,000 level on Saturday, as cryptocurrency markets consolidated to start the weekend.
Following a high of $31,005.61 on Friday, BTC/USD dropped to a low of $30,044.50 earlier in today’s session.
Yesterday’s peak saw bitcoin climb to its highest level since June 7, which has seemingly prompted bulls to secure gains.
Looking at the chart, the decline in price comes as the 14-day relative strength index (RSI) collided with a ceiling at 71.00.
At the time of writing, the index is now tracking at 70.18, which is marginally higher than a floor at 68.00.