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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.
Bulls are not going to give up after yesterday’s dump, according to CoinStats.
The rate of Bitcoin (BTC) has increased by 1% since yesterday.
Despite yesterday’s fall, the price of BTC is looking bullish on the hourly chart. If the breakout of the resistance of $67,645 happens, the upward move may continue to the vital zone of $70,000.
On the bigger time frame, the rate of BTC is coming back to the recently formed level of $68,577. If the daily bar closes near that mark or even above it, traders may expect to see a new all-time high for the leading crypto.
From the midterm point of view, buyers remain more powerful than sellers as there are no bearish signals yet.
If the weekly candle closes with no long wick, there is a chance to see a test of the $70,000 area soon.
Bitcoin is trading at $67,058 at press time.