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.
Buyers have failed to hold the initiative until the end of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.39% since yesterday. Over the last week, the price has risen by 10.60%.
Despite today's slight growth, the price of BTC is testing the local support of $59,903. If a breakout happens, there is a chance of an ongoing correction to the $59,500 zone.
On the bigger time frame, one should pay attention to the nearest level of $60,670.
Denys SerhiichukWhile the rate is below it, traders may witness a correction to the $59,000 range within the next few days.
From the midterm point of view, the weekly candle is about to close in the green zone. However, a further upward move is unlikely as not enough energy has been accumulated yet. All in all, sideways trading in the area of $58,000-$61,000 is the more likely scenario.
Bitcoin is trading at $60,163 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Vladislav Sopov
Dan Burgin