Bulls are back in the game, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by 3.32% over the last 24 hours.
Although BTC has experienced expansion recently, its hourly chart indicates a bearish trend with the rate hovering close to the support level at $69,921. If an upturn fails to materialize by the end of the day, this could trigger a drop down to around $69,000.
In the long term perspective, neither bulls nor bears are clearly in charge of Bitcoin’s price movement. Consequently, trading volume has decreased, indicating that BTC may require additional time to gather sufficient strength for its next significant price shift.
In summary, it’s expected that Bitcoin will continue to trade within the range of $69,000 and $72,000 in the coming days.
On the weekly scale, a comparable scenario unfolds: No clear leader emerges between the bulls and bears, indicating that the price action is continuing to hover within the $64,000 to $72,000 range through the remainder of the month.
Bitcoin is trading at $69,878 at press time.
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2024-04-11 19:01