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 bears' pressure continues as most of the coins remain in the red zone, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.37% over the last day.
On the hourly chart, the price of BTC is near the local support of $92,465. If the daily bar closes around that mark, the correction is likely to continue to the $91,000 zone.
On the bigger time frame, the candle is about to close with a long wick. If bulls cannot seize the initiative until the end of the day, traders may witness a support breakout, followed by a drop to the $88,000-$90,000 range.
From the midterm point of view, sellers are more powerful than buyers.
Denys SerhiichukIf the breakout of the $92,118 level happens, the energy might be enough for a test of the $80,000-$85,000 zone.
Bitcoin is trading at $93,274 at press time.
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.
Tomiwabold Olajide
Yuri Molchan
Dan Burgin
Vladislav Sopov