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The prices of most of the coins are falling, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has declined by 4.29% over the last 24 hours.
On the hourly chart, the rate of BTC has made a false breakout of the local support level of $63,722. At the moment, one should pay close attention to the daily bar closure. If it happens far from this mark, buyers may seize the initiative.
On the longer time frame, the price of the main crypto has also bounced off the previous bar low of $63,554. However, it is too early to think about a reversal as bulls have not accumulated enough energy for a bounce back.
In this case, sideways trading around $64,000 is the most likely scenario until the end of the week.
From the midterm point of view, the rate is in the middle of the wide range, which means that none of the sides has seized the initiative yet. In this case, ongoing consolidation in the zone of $62,000-$67,000 is the more likely scenario for the next few days.
Bitcoin is trading at $64,262 at press time.
Dan Burgin
Tomiwabold Olajide
