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.
Bulls keep controlling the situation on the cryptocurrency market as most of the coins are in the green zone.
BTC/USD
Bitcoin (BTC) is not showing such a great performance as most of the altcoins, growing by only 0.37% over the last 24 hours.
On the local time frame, Bitcoin (BTC) could not fix above the $42,000 mark from the first attempt. If the fall continues, there is a chance to see the rate of the leading crypto around the nearest support at $41,211 by the end of the day.
On the daily chart, Bitcoin (BTC) remains trading in the wide range between the support at $39,218 and the resistance at $42,415. At the moment, BTC is facing a decline after a failed attempt to fix in the area of $42,000.
If sellers' pressure continues, there is a possbility to expect the test of the nearest level at $40,869 within the next few days.
On the weekly chart, the rate is in the middle of the range, which means that the coin has not accumulated enough energy for a further sharp move. However, if buyers can seize the initiative and get back to the area of $44,000, there are chances to see the mid-term growth to the $45,000 mark soon.
Bitcoin is trading at $41,305 at press time.
Vladislav Sopov
Gamza Khanzadaev
