As a seasoned crypto investor with over a decade of experience navigating this ever-evolving digital landscape, I find myself intrigued by the current state of affairs. The weekend, historically known for its unpredictable market swings, presents an interesting scenario as buyers seemingly hold the upper hand according to CoinMarketCap.
Buyers are more powerful than sellers at the beginning of the weekend, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.49% over the last 24 hours.
On an hourly timeframe, Bitcoin’s price hovers around the midpoint of its current trading range. This position is defined by the support level at approximately $76,230 and the resistance level at about $76,666.
It seems that neither team has a clear advantage at the moment, so it’s expected that the prices will fluctuate near their current levels without significant changes until the end of the day.
Over a larger time span, it’s crucial to keep an eye on the next significant level at approximately $76,900. Should the buying pressure persist, there could be a potential for a breakthrough of this resistance level, leading to a new high record test.
Looking at the midpoint, there haven’t been any corrective signals so far. If the weekly closing price strays significantly from the $73,881 level without a large wick, it could suggest that the trend might extend towards reaching $80,000.
Bitcoin is trading at $76,522 at press time.
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2024-11-09 15:57