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 is trading sideways today, according to the CoinMarketCap ranking.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.63% over the last 24 hours.
On the daily chart, the price of Bitcoin (BTC) is trading sideways, between the support at $26,950 and the resistance of $27,493. There are low chances to see any sharp moves today, as most of the ATR has been passed.
In this case, consolidation in the range of $21,100-$21,300 is the more likely scenario until tomorrow.
A similar situation can be seen on the daily time frame, as the rate is far from main levels. However, until the price is above the support level of $26,818, buyers have the chance to move upward. Such a scenario is relevant until mid-September.
From the midterm point of view, one should pay attention to the nearest level of $26,806. If the weekly bar closes above it, traders are likely to see growth to the $27,500-$28,000 zone soon.
Bitcoin is trading at $27,182 at press time.
Vladislav Sopov