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The situation has not changed much since yesterday, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has fallen by 1.76% over the last 24 hours.
On the hourly chart, the rate of BTC is rising after a bounce back from the local support level of $63,550. If buyers can hold the gained initiative, the upward move may continue to the resistance of $64,367 until the end of the day.
On the bigger time frame, one should pay attention to the nearest level of $65,702. Until the price is below that mark, none of the sides is dominating.
Denys SerhiichukIn this case, ongoing sideways trading in the zone of $63,000-$65,000 is the more likely scenario until the end of the week.
From the midterm point of view, the rate of BTC is in the middle of a wide channel, between the support of $52,884 and the resistance of $73,794. There are low chances to expect any sharp moves soon.
Bitcoin is trading at $63,972 at press time.
Mushumir Butt
Tomiwabold Olajide