U.Today - The correction continues on the crypto market, according to CoinMarketCap.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has dropped by 3.06% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of BTC is looking bullish. If the daily bar closes above the resistance level of $59,021, the rise may lead to the test of the $60,000 range soon.
Image by TradingViewOn the daily time frame, the price of the main crypto has once again bounced off the support level of $57,615. However, it is still early to think about a fast reversal.
If the bar closes around the current prices, sideways trading in the area of $58,000-$60,000 is the more likely scenario.
Image by TradingViewFrom the midterm point of view, the picture is quite similar. The rate of BTC is far from the main levels, which means there are low chances to expect any sharp moves soon.
Bitcoin is trading at $59,320 at press time.
This content was originally published on U.Today
