Can Bitcoin (BTC) surpass the rise of the altcoins?
By the end of the week, bulls have seized the initiative and the majority of the top 10 coins are again green. Polkadot (DOT) is the only exception from the rule, going down by 0.34%.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has risen by 3.49% since yesterday, while the price change over the last week is +8%.
BTC/USD chart by TradingView
On the hourly chart, Bitcoin (BTC) is trying to fix above the $45,000 mark against the declining trading volume. However, it has low chances to accomplish that today as the main crypto has run out of power so far.
In this case, one may expect the retest of the mirror level at $44,650.
BTC/USD chart by TradingView
On the daily time frame, Bitcoin (BTC) has almost reached the resistance of $45,700. It might be difficult to break it from the first attempt, so one may expect a short-term decline. Thus, the decreasing buying trading volume confirms that bulls need more energy to keep the rise going.
BTC/USD chart by TradingView
On the bigger chart, Bitcoin (BTC) has almost reached the resistance at $47,000.
The trading volume is slightly increasing, which means that buyers may break the aforementioned level if they keep BTC above $44,000.
Bitcoin is trading at $44,947 at press time.
Read full original article on U.Today
Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
