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Bears continue their pressure as most of the coins remain in the red zone.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.29% since yesterday, while the price has risen by 1.46% over the last week.
On the hourly chart, Bitcoin (BTC) has begun to rise after the false breakout of the support level at $19,331. At the moment, the price is near the local resistance at $19,524.
If buyers can hold the gained initiative, the rise may continue to the $19,600 zone.
On the bigger time frame, Bitcoin (BTC) has once again bounced off the support level at $19,335. While the price is above it, there is a chance for local growth. If that happens, the next zone where sellers can return to the game is the area of $19,800.
From the midterm point of view, the situation is more bearish than bullish as the price is still near the support level of $17,592. If buyers lose the $19,000 mark, one can expect a sharp drop soon.
Bitcoin is trading at $19,503 at press time.
Dan Burgin
Arman Shirinyan
Godfrey Benjamin
