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 on Friday as some coins are in the red zone, while others keep rising.
BTC/USD
The rate of Bitcoin (BTC) has slightly fallen since yesterday, going down by 0.20%.
On the hourly chart, the price has bounced off the local support level at $22,883, which means that buyers are not going to give up. If the rise continues to the $23,000 mark, one can expect the breakout of the resistance at $23,087 tomorrow.
On the daily chart, the situation is mostly unchanged. The price of Bitcoin (BTC) keeps trading in the channel, accumulating power for a further move.
Denys SerhiichukTraders can expect the next wave of growth if the candle fixes above the resistance at $23,362. Only in that case, the midterm growth can continue.
On the bigger chart, one should pay attention to the same mark of $23,362. In case a false breakout of it happens, there is a possibility to expect a fall to the nearest support zone of $22,000. Such a scenario is relevant until mid-February.
Bitcoin is trading at $22,883 at press time.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov