As a seasoned researcher with years of experience in the cryptocurrency market, I find myself both excited and cautiously optimistic about the current upward trend among the top 10 coins. The positive momentum of Bitcoin (BTC) over the past 24 hours is a welcome sight, especially after the rollercoaster ride we’ve all been on lately.
The weekend has started positively for most of the top 10 coins, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.71% over the last 24 hours.
On an hour-by-hour basis, Bitcoin’s price is currently shattering its nearby support at around $90,900. If today’s daily bar ends below or very close to this point, the downward trend could extend to approximately $90,000 tomorrow.
Looking at a broader perspective, the primary cryptocurrency has rebounded from its resistance level at approximately $91,846. Should selling pressure persist, a potential drop towards the $89,000 to $90,000 price range may occur in the near future.
A better picture is on the weekly chart. At the moment, there are no reversal signals yet.
If the candle closes near its peak, traders may witness a test of a new all-time high shortly.
Bitcoin is trading at $91,011 at press time.
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2024-11-16 16:16