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 could not keep the growth going, so sellers have seized the initiative. As a result, all of the top 10 coins are in the red zone.
BTC/USD
Yesterday morning, buyers tried to restore the Bitcoin (BTC) price, but they failed to overcome the psychological resistance of $40,000.
In the evening, bears intensified the onslaught and continued the decline in the price of Bitcoin. As of this morning, sellers tested the level of $38,500 and, during the day, the pair may reach the nearest support at the $37,150 level.
On the 4H chart, Bitcoin (BTC) is trying to bounce back after a test of the $37,700 level. Even though it is too early to think about mid-term growth, there is a good chance of seeing a retest of the liquidity level around $39,500.
Denys SerhiichukSuch a statement is supported by the increasing trading volume.
On the bigger time frame, the chief crypto has bounced back to the recently formed level of $38,400. If bulls can hold this level, they can get back to the resistance at around $39,200. In another scenario, the fall may continue to the far support at $36,000.
Bitcoin is trading at $38,419 at press time.
Alex Dovbnya
Arman Shirinyan
Dan Burgin