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 are trying to be back in the game after yesterday's dump.
BTC/USD
The price of Bitcoin (BTC) has risen by 1.67% over the last 24 hours.
On the hourly chart, the rate of BTC has broken the local resistance of $43,290 and is trying to stay above it. If bulls manage to hold the initiative, the growth may continue to the $44,000 zone tomorrow.
A different picture is on the daily time frame. The price needs time to get energy for a further move after such a big drop. In this case, ups or downs are unlikely to happen shortly.
Denys SerhiichukSideways trading in the area of $42,000-$44,000 is the more likely scenario until the end of the week.
From the midterm point of view, one should wait until the bar closes. If it happens near the resistance level of $44,779, buyers can maintain the rise, which can lead to a test of the $48,000 zone.
Bitcoin is trading at $43,273 at press time.
Alex Dovbnya
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov