Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. Financial and market information provided on U.Today is for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Please contact a financial professional and conduct your own research before making any investment decisions. Although we believe all content is accurate as of the date of publication, certain offers mentioned may not be currently available.
According to CoinStats, the cryptocurrency market has turned bearish again after a slight rebound.
BTC/USD
The Bitcoin rate has fallen by 2.13% in the past day.
On the hourly chart, BTC price is more bearish than bullish as it has declined after an unsuccessful attempt to correct above the interim zone of $63,000.
If the situation does not change by the end of today, support could be tested by tomorrow.
A similar image is also available in the daily time frame. If the bar closes below the $63,136 support level, we can expect a continued decline to the $62,000 area soon.
From a medium-term perspective, there are no reversal signals yet, meaning it is too early to think of a pullback. Additionally, if a buyer loses his $60,000 zone, the accumulated energy could be enough to throw him into his $55,000 zone.
At the time of writing, Bitcoin is trading at $62,979.