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Most of the coins have entered a correction phase; however, there are some exceptions to the rule, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has declined by 5.68% over the last day.
On the hourly chart, the price of BTC has made a false breakout of the local support level of $66,767. However, one should pay attention to the daily bar closure. If it happens near the mentioned mark, there is a chance to see a breakout, followed by a move to $65,000.
On the bigger time frame, the rate of BTC has bounced off the support of $65,623.
If the candle closes far from it, traders may expect sideways trading in the area of $67,000-$70,000 within the next few days.
On the weekly chart, the price has made a false breakout of the recently formed resistance of $70,184. If bulls can get back in the game and restore the price above $70,000, there is a chance to see a new all-time high soon.
Bitcoin is trading at $68,169 at press time.
Arman Shirinyan
Alex Dovbnya
