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.
Most of the coins remain in the green zone, however, there are some exceptions to the rule, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has gone up by 0.11% over the past day.
On the hourly chart, the rate of BTC is coming back to the local support of $57,751. If the daily bar closes around it, one can expect a level breakout, followed by a move to the $57,000 area.
On the bigger time frame, traders should pay attention to the nearest level of $58,518. If the candle closes far from it, there are low chances to see a resistance breakout shortly, as not enough energy has been accumulated yet.
From the midterm point of view, bulls are trying to withstand sellers' pressure. However, it the weekly bar closes near $60,000, traders are unlikely to witness a further upward move.
Denys SerhiichukIn this case, sideways trading in the zone of $56,000-$60,000 is the more likely scenario.
Bitcoin is trading at $57,763 at press time.
Alex Dovbnya
Vladislav Sopov
U.Today Editorial Team
Dan Burgin