Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The bears’ pressure continues, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has dropped by 3.25% over the last day.
Despite today’s decline, the rate of BTC keeps looking bearish as it is on its way to the local support level of $59,544.
Related
If the daily bar closes below the vital zone of $60,000, there is a high possibility to expect a test of $58,000.
Sellers are also more powerful than buyers on the daily time frame. If the situation does not change until the end of the day and the bar closes near its low, the fall is likely to continue to the support of $56,500.
From the midterm point of view, there are no reversal signals yet. If buyers cannot seize the initiative shortly, traders may expect a support breakout, followed by a move to the $55,000 range.
Bitcoin is trading at $60,311 at press time.
This news is republished from another source. You can check the original article here