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 dominating on the cryptocurrency market; however, there are some exceptions to the rule. Mainly, XRP is the top loser today, falling by 4.40%.
Meanwhile, the market capitalization index remains in the same place and is now $1.5 trillion.
The relevant data for Bitcoin is looking the following way:
-
Name: Bitcoin
-
Ticker: BTC
-
Market Cap: $920,609,862,676
-
Price: $49,484.95
-
Volume (24h): $78,277,351,887
-
Change (24h): 3.93%
The data is relevant at press time.
BTC/USD: Can bulls fix above $50,000 at once?
Sellers pierced the average price level yesterday morning, but the two-hour EMA55 managed to keep the pair from falling further. The Bitcoin (BTC) price bounced off the support of $46,000 and recovered to the $48,700 area by the end of the day.
During the night the trading volumes decreased and the price consolidated around the $48,000 mark. Bulls have already broken the psychological level of $50,000. A new price record can be set at $51,000.
On the 4H chart, Bitcoin (BTC) can retest the liquidity zone around $47,000 to gain more power for a future rise. However, in case the main crypto closes below $47,000, the long-term scenario will not become relevant.
On the longer time frame, the rising channel has not been broken, which means that Bitcoin (BTC) still has potential for future growth.
Thus, there has been no huge amount of trading volume today, which means that most traders have not closed their long positions yet. In this case, one might expect BTC at around $56,000 by the end of the month.
Bitcoin is trading at $49,100 at press time.
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov