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.
The correction has not lasted long, as almost all of the top 10 coins are in the green zone, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.75% over the last 24 hours.
On the hourly chart, the price of BTC is closer to the resistance level than to the support. If buyers' pressure continues, one can expect a breakout, followed by a further upward move to new peaks.
On the bigger time frame, one should pay attention to the daily bar's closure in terms of the $76,420 level.
Denys SerhiichukIf the candle closes far from it, there is a chance to see a correction to the $75,000 zone shortly.
From the midterm point of view, there are no reversal signals yet. If the weekly bar closes near its peak, traders may witness an ongoing rise to the $80,000 area and above.
Bitcoin is trading at $76,093 at press time.
Vladislav Sopov
Yuri Molchan
U.Today Editorial Team
Dan Burgin