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The market is trading side ways, as the volatility of most of the coins has fallen.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has declined by 0.80% over the last 24 hours.
Image by TradingView
On the local chart, the rate of BTC has set a resistance level at $30,692. At the moment, one should focus on the bar closure. If it happens above $30,600, there is a chance to see a breakout tomorrow.
Image by TradingView
On the daily time frame, the situation is neutral as the rate keeps accumulating energy for a further sharp move.
However, until it happens, consolidation in the range of $30,200-$30,800 is the more likely scenario for Bitcoin (BTC).
Image by TradingView
From the midterm point of view, the picture is similar as the rate is not ready yet to grow or to fall. But if buyers manage to get back to the $31,000 zone and the candle closes with a long wick, there is a probability of seeing a test of the resistance.
Bitcoin (BTC) is trading at $30,622 at press time.
Godfrey Benjamin
Arman Shirinyan
Alex Dovbnya
