Monday has started bullish for the cryptocurrency market, according to CoinMarketCap's rankings.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has risen by 4.55% since yesterday.
BTC/USD chart by TradingView
On the local chart, Bitcoin (BTC) is approaching the recently formed resistance level at $24,200. If a breakout occurs, the price may get to the $24,500 zone by the end of the day.
BTC/USD chart by TradingView
On the bigger time frame, Bitcoin (BTC) has broken the $24,000 mark, which means that bulls are ready for a continued rise. If the daily candle closes near $24,445, it may lead to growth to the $25,000 area until mid-August.
BTC/USD chart by TradingView
On the weekly chart, bulls have continued their upward move. If they can hold the price of Bitcoin (BTC) above the $24,000 mark until the end of the week, there are high chances to see a test of the mirror level at $25,400 within the next few days.
Bitcoin is trading at $24,111 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
XRP ruling by Judge Torres denied in Coinbase lawsuit, yet another blow to Ripple
XRP programmatic sales ruling by Judge Torres completely rejected by US Court in Coinbase lawsuit. US Court rejected Coinbase’ motion to dismiss SEC lawsuit, weighing heavily on Ripple’s legal battle.
Sushi price eyes $3 after clearing key weekly resistance level
Sushi price flips the $1.628 resistance level into a support floor after a month of struggle. A temporary retracement might be a good opportunity to accumulate SUSHI before a retest of $3. A breakdown of the $1.267 barrier would invalidate the bullish thesis.
Bitcoin Price Outlook: Will $150 billion bank Morgan Stanley send BTC to new ATH?
Bitcoin has recorded increased volatility this week, with most of BTC holders currently in profit. As market activity continues to grow with long-term holders now ramping up on distribution pressure, the pioneer crypto is bearing the brunt of growing overhead pressure.
Coinbase loses first round of battle against SEC
A day after the SEC filed a lawsuit against Binance last year, it went after Coinbase in a sign that the clampdown is extending to key players in the industry. The latest development in the matter is that the court has ruled in favor of the financial regulator, which means the case will continue.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.