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According to CoinMarketCap, neither bulls nor bears took the initiative on the last day of the week.
Top coins from CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has increased by 0.66% since yesterday. Over the last week, the price has increased by 7.72%.
Image from TradingView
On the hourly chart, BTC price is above the local resistance at $70,555. If the situation does not change by the end of the day, the rise could continue to the $71,000 area tomorrow.
Image from TradingView
The bears failed to sustain the decline after yesterday's bearish candle close. If the rise continues and the bar closes near the $71,649 resistance, the accumulated energy could be enough for a breakout and subsequent rise to $73,000.
Image from TradingView
Bulls are stronger than bears on the weekly chart. However, it is still too early to make far-reaching predictions as the price has not yet reached the recently formed resistance of $73,755.
If growth continues, traders can expect a new all-time high in April.
At press time, Bitcoin is trading at $70,710.
About the author
Denys Serhiichuk
With over five years of trading experience, Denys has extensive knowledge of both technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all relevant information and makes predictions about top coins.
His experience is backed by working in top blockchain-related companies such as W12, Platinum Listing, ATB Coin and others. They can be contacted at [email protected].
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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