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.
Buyers keep controlling the initiative on the first day of the weekend, according to CoinMarketCap's ranking.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.14% over the last 24 hours.
On the hourly time frame, the price of BTC has formed a support level at $26,846. If the daily bar closes in the zone of $26,900 or above, there is a high chance to see a test of the resistance tomorrow.
A less positive picture is on the daily chart. The rate has not bounced back far from the support level of $26,533, which means that sellers remain more powerful than bulls.
If bulls want to seize the initiative, they need to restore the price to the zone of $27,400.
On the weekly time frame, the rate is about to close below the previous bar low, which is a bearish signal. If that happens, there is a high possibility of a further drop to the $26,000 range.
Bitcoin is trading at $26,910 at press time.
Vladislav Sopov
Gamza Khanzadaev
