U.Today - The ongoing drop remains the most likely scenario for most of the coins, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has declined by 4.51% over the last 24 hours.
On the hourly chart, the rate of BTC may have set a local resistance of $77,906. If bulls cannot seize the initiative soon, one can expect a test of the support level of $74,578 by tomorrow.
On the bigger time frame, the price of the main crypto is far from key levels. In this case, one should focus on the candle's closure in terms of the nearest support of $74,457.
If it breaks out, the fall is likely to continue to the $70,000-$72,000 range.
From the midterm point of view, there are also no reversal signals yet. If the weekly closure happens near the $73,881 level, the accumulated energy might be enough for a test of the $70,000 mark soon.
Bitcoin is trading at $76,461 at press time.
This content was originally published on U.Today
