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After a slight bounce back, the cryptocurrency market is bearish again, according to CoinStats.
BTC/USD
The rate of Bitcoin has dropped by 2.13% over the last day.
On the hourly chart, the price of BTC is more bearish than bullish as it is falling after a failed attempt to fix above the interim zone of $63,000.
If the situation does not change by the end of the day, there is a chance to see a test of the support by tomorrow.
A similar picture is on the daily time frame. If the bar closes below the support level of $63,136, one can expect an ongoing decline to the $62,000 area shortly.
From the midterm point of view, there are no reversal signals yet, which means it is too early to think about a bounce back. Moreover, if buyers lose the $60,000 zone, the accumulated energy might be enough for a dump to the $55,000 zone.
Bitcoin is trading at $62,979 at press time.
Tomiwabold Olajide
Yuri Molchan
Arman Shirinyan
