fxs_header_sponsor_anchor

Has the growth of Bitcoin (BTC) ended yet?

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

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.

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.

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.

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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.