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.
Bulls are trying to return the lost initiative as most of the coins are in the green zone again.
BTC/USD
The rate of Bitcoin (BTC) is almost unchanged since yesterday with growth of 0.25%.
On the local chart, Bitcoin (BTC) has made a false breakout of the formed support level at $16,675. If buyers can hold that mark until the end of the day, there are chances to see further growth to the $19,900-$20,000 zone.
On the bigger time frame, nothing crucial is happening as Bitcoin (BTC) keeps trading in the channel, accumulating power for a further sharp move. However, if bulls can return the rate to the important $20,000 mark, a bullish trend may start.
Analyzing the weekly chart, Bitcoin (BTC) remains above the support at $19,526. If buyers can hold this mark until the end of the week, one can expect continued growth to the mirror level at $20,800 in the second part of September.
Bitcoin is trading at $19,822 at press time.
Godfrey Benjamin
Yuri Molchan
Vladislav Sopov
Dan Burgin