Bears will not give up based on CoinMarketCap’s ranking.
BTC/USD
Bitcoin (BTC) price is down slightly by 0.24% in the last 24 hours.
On the hourly chart, Bitcoin (BTC) price broke the resistance at $16,576 against the increased volume, which means the bulls are back in the game.
If the price holds above this level by the end of the day, traders could expect a test of the $16,700 zone tomorrow.
Despite the forming bullish candle on the daily timeframe, the buyers have not yet accumulated enough strength for further growth. Currently, watch out for the $16,800 area. If the price reaches it and fixes above, Bitcoin (BTC) price could drop back to $17,000.
A similar picture can be seen on the weekly chart as the price is far from the key levels. Sellers are said to be more powerful than bulls to some extent as the price is near the $16,400 zone. If there is a breakout, there are high chances that $16,000 will be tested soon.
Bitcoin is trading at $16,636 at press time.
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