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 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.
If 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.
Yuri Molchan
Arman Shirinyan
Alex Dovbnya
