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.
Bears are back again, according to the CoinStats ranking.
BTC/USD
The price of Bitcoin (BTC) has fallen by 5% over the last 24 hours.
On the hourly chart, the price of BTC has settled below the local support of $45,255. As long as the price remains below this, sellers hold more power than buyers.
Denys SerhiichukIn this case, there is a high chance of seeing a further decline to the $44,000 area.
On the larger time frame, BTC has entered a bearish zone, with the price currently remaining below the $44,729 level. Should this trend persist, we may soon see the correction extend toward $43,000.
From the mid-term point of view, the price of BTC has rebounded from the resistance level of $47,897. If the weekly bar closes far from it, one can expect a continued downward move to the $41,000 area.
Bitcoin is trading at $44,385 at press time.
Arman Shirinyan
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov