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 cryptocurrency market might not have decided which way to move as some coins are in the red zone, while others keep rising.
BTC/USD
The price of Bitcoin (BTC) keeps rising, going up by 0.14% over the last 24 hours.
On the hourly chart, the price of Bitcoin (BTC) has bounced off the support level at $22,782, which means that bulls will not give so easily. If the candle fixes above that mark, the rise may continue to the interim point of $23,000 tomorrow.
The price is stuck in the channel on the daily time frame, between the support at $22,442 and the resistance at $23,362. If buyers cannot recover the price above the $23,000 zone soon, there are chances to see the fall to $22,000 until the end of the month.
From the midterm point of view, one should focus on the $22,781 level. If the bar closes above it, that means that bulls are ready to keep the growth going to the $24,000-$25,000 zone.
Bitcoin is trading at $22,834 at press time.
Vladislav Sopov