Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Bears are not going to give up so easily; however, there are some exceptions to this rule.

BTC/USD

Unlike other coins, the rate of Bitcoin (BTC) has increased by almost 2% over the last 24 hours.

On the local chart, traders should focus on the recently formed resistance level of $28,574. If the daily candle closes above it, the rise may continue to the $29,000 area tomorrow.

Buyers are also trying to seize the initiative on the bigger time frame. The price has not gone down after a false breakout of the level of $28,627, which is a bullish signal. 

If the bar closes above that mark, one can expect a test of the $29,500-$30,000 zone soon.

From the midterm point of view, it is too early to make any far predictions as the rate is in the middle of a wide channel. However, if the bar closes near the vital zone of $30,000, the upward move is likely to continue to $31,500.

Bitcoin is trading at $28,685 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].