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The situation in the cryptocurrency market has almost not changed as most coins remain in the red.
BTC/USD
The price of Bitcoin (BTC) has fallen by 0.29% in the last 24 hours.
On the hourly chart, Bitcoin (BTC) price is returning to the recently formed support level at $25,755. If the situation does not change, the breakout could soon lead to a rise to the $25,700 zone.
Today’s candle is about to close below the low of the previous bar on the daily time frame. In this case, there is a high probability that the price will continue to decline until the next support level at $25,350. Such a scenario is relevant until the end of next week.
On the weekly chart, the situation is slightly better as Bitcoin price may have found the support level of $25,350. However, it is still too early to think about a trend reversal as the price has not yet accumulated enough energy for this.
In this case, the more likely scenario is sideways trading in the $25,500-$26,500 range over the next few days.
At press time, Bitcoin is trading at $25,783.
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