The market has entered a short-term correction phase as some coins have come back to the red zone.
Meanwhile, the market share of Bitcoin (BTC) keeps going down and is now at 60.2%.
The relevant data for Bitcoin is looking the following way:
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Name: Bitcoin
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Ticker: BTC
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Market Cap: $875,665,157,912
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Price: $47,009.11
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Volume (24h): $78,007,916,739
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Change (24h): -1.75%
The data is relevant at press time.
BTC/USD: Can Bitcoin fix above $50,000 shortly?
The rate of Bitcoin (BTC) has gone down over the last day. The price change has accounted for -1.75%.
On the hourly chart, Bitcoin (BTC) is about to show a reversal as the leading crypto has retested the liquidity level around $47,000.
In this case, the nearest target is located at the resistance of $48,200.
On the bigger time frame, Bitcoin (BTC) has not gone below $47,000 which means that there is the potential to see a retest of the level of $48,700 next week.
From the long-term point of view, Bitcoin (BTC) is on the way to the crucial mark of $50,000. The possibility of such a move is confirmed by the bullish divergence on the RSI indicator and buying trading volume.
Bitcoin is trading at $47,034 at press time.
Alex Dovbnya
Gamza Khanzadaev