Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market has faced a slight correction as some coins have returned to the red zone.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1% over the last 24 hours.
On the hourly chart, the rate of Bitcoin (BTC) is on the way to the local support at $30,315. If buyers cannot seize the initiative, the breakout can be a prerequisite for a sharp drop to the $30,100-$30,200 zone.
On the daily time frame, the rate of Bitcoin (BTC) has once again tested the resistance at $30,614. At the moment, neither buyers nor sellers are controlling the situation.
Denys SerhiichukWhile the rate is above the vital $30,000 mark, there is nothing to worry about. However, if a breakout of it happens, the drop may continue to the support at $29,380.
From the midterm point of view, the rate of Bitcoin (BTC) has fixed above the resistance at $29,380. However, bulls might need more time to accumulate energy for a further move. In this case, sideways trading in the area of $29,500-$30,500 is the more likely scenario for the next days.
Bitcoin is trading at $30,368 at press time.
Yuri Molchan
Alex Dovbnya
Dan Burgin
Vladislav Sopov