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.
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
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.