Bulls have seized the initiative again after Bitcoin (BTC) made one more attempt at reaching $7,000. At the moment, all of the coins from the top 10 list are in the green zone.
Today's growth of most of the coins has positively affected total cryptocurrency market capitalization, which has increased and currently amounts to $183.2 Bln.
The relevant data for Bitcoin is below.
Market Cap: $122 623 892 132
Volume (24h): $36 026 632 909
Change (24h): 0.86%
The data is relevant at press time.
BTC/USD: Is $7,000 the last resistance before a more profound decline?
The rise has not been broken and Bitcoin (BTC) has continued trading in it. The rate of the chief crypto has risen by 0.78% over the past 24 hours.
Bitcoin (BTC) is getting closer to $7,000; however, this growth is not accompanied by rising trading volume. In this case, there is a good chance of a false breakout.
In terms of fundamentals, today is the expiration of Bitcoin futures, which is usually a bearish signal. Summing up, traders can expect a rise to $7,000, followed by further decline.
On the daily time frame, Bitcoin (BTC) is located within a Wedge pattern, which is bearish. After a possible pump to $7,000, the decline will continue. Regarding the long-term, the drop may continue to the vital support at $6,000.
Bitcoin (BTC) is trading at $6,642 at press time.
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