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The weekend has begun with continued bullish dominance; however, some coins are in the red zone.
BTC/USD
Bitcoin (BTC) could not follow the rise of the altcoins, and its rate has declined by 0.22% since yesterday, while the price change over the past seven days has been 5.95%.
On the hourly chart, Bitcoin (BTC) has almost reached the liquidity zone at around $45,900 where a bounceback has occurred. The decline was accompanied by a high selling trading volume, which means that bears may not have closed their positions yet.
Denys SerhiichukIn this case, the more likely price action until the end of the day is a retest of the mirror level at $47,400.
On the longer time frame, the decline may continue if bears fix below the $46,500 mark until the end of the trading session. Respectively, the nearest level at which bulls may try to seize the initiative is the support at $45,676.
In the mid-term, the long-term scenario remains relevant. The trading volume has declined slightly, which might mean that traders are gathering power to keep the rise going. All in all, the level of $53,000 can work for buyers until the end of the month. However, if bears fix below $42,300 on the daily chart, the decline will be more likely to happen.
Bitcoin is trading at $46,421 at press time.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov