After a few days of an accumulative period, the cryptocurrency market has rocketed. All of the top 10 coins are green while the top gainer is Bitcoin SV (BSV), which has rocketed by almost 40%.
However, the hash rate of Bitcoin (BTC) keeps dropping against the sharp growth of the leading crypto. The decline has continued since the dump started at the beginning of the month.
The relevant data for Bitcoin is below.
Market Cap: $120 820 901 618
Volume (24h): $56 447 329 750
Change (24h): 22.44%
The data is relevant at press time.
BTC/USD: Expecting $7,000 This Week?
Our recent Bitcoin (BTC) price projection has more than justified itself as the rate has surpassed the $6,000 mark. Current growth has amounted to 23.54% since yesterday.
Bitcoin (BTC) continues its short-term growth and has managed to attain the $6,500 level. To keep the growth it needs to face a slight correction to around the $6,200-$6,300 zone. Moreover, the oversold RSI indicator on the 4H chart confirms a possible roll back from current levels. If the main cryptocurrency drops below $6,000, the growth scenario will be canceled.
On the daily chart, the main resistance is located at the $7,000 level, which Bitcoin (BTC) is approaching. The blue line of the MACD indicator is about to cross the red zone, confirming the ongoing presence of bulls.
In addition, the Relative Strength Index has not reached the oversold zone yet. The Visible Range indicator also suggests high liquidity above $7,000. Summing up, in the current week, Bitcoin (BTC) might close above $7,000.
Bitcoin is trading at $6,604 at press time.