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.
The majority of the cryptocurrencies are rising today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.35% over the past day.
On the hourly chart, the rate of BTC has made a false breakout of the formed support level of $114,871. Most of the daily ATR has been passed, which means there are low chances of seeing increased volatility by tomorrow.
On the longer time frame, the price of the main crypto has bounced off yesterday's bar low at $114,706.
If it breaks out, the fall is likely to continue to the $112,000-$113,000 zone.
From the midterm point of view, the situation is rather more bearish than bullish as the rate of BTC is falling after the previous bearish bar's closure. If bulls cannot seize the initiative soon, one can expect a test of the support level soon.
Bitcoin is trading at $115,599 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team