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Most coins are trading in the red zone, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.56% over the last 24 hours.
On the hourly chart, the price of BTC has broken the local resistance of $70,370. If the growth continues, there is a chance to see a test of the $72,000 zone by tomorrow.
On the daily time frame, buyers are trying to seize the initiative after yesterday’s bearish closure. If their pressure continues, one can expect a further upward move to the resistance of $73,794 shortly.
From the midterm point of view, one should wait until the weekly candle closes.
Related
If it happens near the resistance and with no long wick, the accumulated energy might be enough for a breakout, followed by a test of the $75,000 mark.
Bitcoin is trading at $71,432 at press time.
