U.Today - Most of the coins are facing a local bounce back, according to CoinMarketCap.
Top coins by CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has gone up by 1.17% over the last 24 hours.
On the hourly chart, the rate of BTC is about to break the local resistance of $57,274. If it happens and the daily bar closes with no long wick, the upward move to $58,000 may continue.
On the bigger time frame, the picture is less positive. The rate of BTC is far from the main levels, which means neither bulls nor bears are dominating.
In this case, there are low chances to expect any sharp moves by the end of the week.
From the midterm point point of view, sellers are more powerful than buyers. If the weekly candle closes around current prices, one can expect a test of the support of $53,550 soon.
Bitcoin is trading at $57,138 at press time.
This content was originally published on U.Today
