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According to CoinMarketCap ranking, bulls continue their dominance.
BTC/USD
Bitcoin (BTC) is the biggest gainer among the top 10 coins, up more than 10% in the last 24 hours.
Despite the strong growth, Bitcoin (BTC) is looking locally bearish on the hourly chart as the price has returned to the $24,571 support level. If price stabilizes below that, the decline could continue to the next zone around $24,400. Such a scenario is relevant until the end of the day.
On the daily timeframe, the situation is bearish rather than bullish as the price failed to fix above the key zone of around $25,000.
If the price returns to the $24,258 support, it could be a prerequisite for a further decline to the $23,954 level.
From a medium-term perspective, Bitcoin (BTC) looks bullish; however, one must wait for the close of the candle. If it scales above the $23,954 level, there are chances for another increase. In that case, growth can continue until the next resistance level of $26,845.
Bitcoin is trading at $24,535 at press time.
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