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 weekend has started with a neutral mode on the cryptocurrency market.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.11% over the last 24 hours.
On the daily chart, the price of BTC has made a false breakout of the local support level at $37,670. However, if the daily candle closes near it, there is a chance of a decline to the $37,500 zone tomorrow.
On the bigger time frame, the rate of BTC has failed to break through the level of $38,000 and fix above it.
Denys SerhiichukUntil it happens, traders may expect a correction to the $37,000-$37,500 area soon.
A similar picture is on the weekly chart. If the bar closes far from the $37,988 level, bears may seize the initiative, which can lead to a drop to the $36,000 range next month.
Bitcoin is trading at $37,703 at press time.
Alex Dovbnya
Godfrey Benjamin
Dan Burgin