TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

Has the growth of Bitcoin (BTC) ended yet?

Has the growth of Bitcoin (BTC) ended yet?
Denys SerhiichukDenys SerhiichukU.Today

Bitcoin has continued its fall, going down by 4% over the last day.

Chart

Top coins by CoinMarketCap

BTC/USD

Bears have locally seized the intiative as bulls could not return the rate of Bitcoin (BTC) to the $21,000 mark.

BTCUSD

BTC/USD chart by TradingView

On the hourly time frame, Bitcoin (BTC) is trading in a narrow range between the support at $19,883 and the resistance at $20,210. At the moment, the price is located in the middle of the channel, which means that neither bulls nor bears are dominating.

However, if buyers can hold the rate above $20,000, short-term growth may happen.

BTCUSD

BTC/USD chart by TradingView

On the longer-term chart, Bitcoin (BTC) has made a false breakout of the $19,869 level. The selling volume has risen, confirming sellers' power. However, if bulls can keep the rate above the mentioned mark, one can expect a bounceback soon.

BTCUSD

BTC/USD chart by TradingView

From the mid-term point of view, Bitcoin (BTC) is trading in a narrow range that neither bulls nor bears are signaling. However, if the candle fixes below the $20,000 mark, the fall may continue to the next support level at $17,592.

Bitcoin is trading at $20,098 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

More from Denys Serhiichuk
Share:

Editor's Picks

Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave (AAVE) extends its rally, trading above $81 on Thursday after closing above its key resistance and surging more than 10% the previous day. The bullish move is supported by improving on-chain metrics, with USDT deposits flowing back into the protocol and strengthening its lending ecosystem.
Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

Ripple remains under pressure, trading at $1.06 after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency on Thursday, but the move failed to lift sentiment.

Ethereum Price Forecast: ETH could see a 30% decline if history repeats​

Ethereum Price Forecast: ETH could see a 30% decline if history repeats​

Ethereum (ETH) has fallen toward the $1,600 level, down over 3% on Wednesday as risk-off signs persist across key onchain metrics. The ETH Realized Price Lower Band, which has historically marked bear market bottoms for the top altcoin, suggests ETH has room for further downside before staging a proper upward move.
Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.