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.
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.
Bears are becoming more active on the last day of the week, according to CoinMarketCap.
The rate of Bitcoin (BTC) has increased by almost 2% since yesterday. Over the last week, the price has risen by 12.73%.
Despite today’s rise, the price of BTC remains bullish on the hourly chart. At the moment, it is near the local resistance level of $69,981.
If bulls can hold the gained initiative, there is a chance of a breakout followed by a move to the zone of $70,000 and above.
On the bigger time frame, one should pay attention to the daily closure in terms of the level of $69,210. If the candle closes above that mark and with no long wicks, the growth may lead to a new all-time high.
On the bigger time frame, there are also no reversal signals yet. If the weekly bar closes above the $69,000 mark, there is a high possibility of a test of the $70,000-$71,000 area next week.
Bitcoin is trading at $69,801 at press time.