Bitcoin (BTC) is the biggest gainer today, rising by 1.77%.
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BTC/USD
The rate of Bitcoin (BTC) is outperforming altcoins, according to CoinMarketCap data.
Image by TradingView
On the hourly chart, the rate of Bitcoin (BTC) has made a false breakout of the local support at $25,210. If buyers can hold the gained initiative and the candle closes near the resistance at $25,678, one can expect a breakout, followed by a blast to the $25,800 area, tomorrow.
Image by TradingView
On the bigger time frame, it is too early to make any predictions as the rate of BTC has not accumulated enough energy for growth even though it bounced off the support at $24,819.
In this case, the more likely scenario is consolidation in a narrow range of $25,500-$26,000.
Image by TradingView
A similar situation can be seen on the weekly chart as the rate has made a false breakout of the mirror level. If the bar closes above the previous candle low at $25,350, traders may expect a local upward move to the $26,500-$27,000 zone by the end of the month.
Bitcoin is trading at $25,600 at press time.