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.
Bears have come back to the game after a slight bounce back, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.32% over the last day.
On the hourly chart, the price of BTC is about to break the local support level of $64,809. If it happens, the energy might be enough for a more profound drop to the $64,000 zone tomorrow.
On the bigger time frame, sellers are keeping their pressure, and there are no reversal signals yet. At the moment, one should pay attention to the interim level of $64,000.
Denys SerhiichukIf the decline continues and the daily bar closes near it or below, traders may expect a test of the $63,000 mark soon.
From the midterm point of view, traders should focus on the previous bar's low at $65,000. If the candle closes below it, there is a possibility to see a drop to the $60,000-$62,000 range.
Bitcoin is trading at $64,805 at press time.
Yuri Molchan
Alex Dovbnya
Dan Burgin
Vladislav Sopov
U.Today Editorial Team