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Bears are keeping the pressure on, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by almost 6% over the last 24 hours.
On the hourly chart, the price of BTC is trading near the support of $62,443.
Denys SerhiichukIf the daily bar closes near that mark, traders may expect a breakout, followed by a further drop to $62,000 and below.
On the daily time frame, the candle is about to close near it. If that happens, the correction may continue to the $58,000-$60,000 zone until the end of the week.
From the midterm point of view, the rate of the main crypto is falling after a false breakout of the $70,184 level. If the weekly bar closes below $65,000, there is a possibility to see a test of the $55,000 area next month.
Bitcoin is trading at $62,600 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin