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Neither bulls nor bears are controlling the situation on the last day of the week as the rates of some coins keep rising while others have returned to the red zone.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has almost not changed since yesterday.
Image by TradingView
On the hourly chart, the price of Bitcoin (BTC) is trading in the middle of the narrow channel between the support at $26,386 and the resistance at $26,633.
Denys SerhiichukAny sharp moves are unlikely until the end of the day as the coin has passed most of its ATR. In this case, ongoing sideways trading in the area of $26,500 is the more likely scenario.
Image by TradingView
On the bigger time frame, the rate of BTC has almost tested the resistance at $26,809, where it found bears' pressure. If a local decline does not happen, traders may expect one more attempt to break out of the $26,800 zone. If that happens, the upward move may lead to the $27,200-$27,600 area.
Image by TradingView
On the weekly chart, the rate of BTC has made a false breakout of the mirror level at $24,819, which means that buyers have locally seized the initiative. However, it is too early to think about a fast reversal as the main crypto needs to accumulate more energy. Respectively, consolidation in the range of $26,000-$27,000 is the more likely scenario until the end of the month.
Bitcoin is trading at $26,483 at press time.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin