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Buyers have turned out to be more powerful than sellers on the last day of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1.70% since yesterday. Over the last week, the price has risen by 4.48%.
Despite today’s rise, bulls are facing trouble holding the gained initiative. If the situation does not change until the end of the day, one can expect a test of the $59,000 zone tomorrow.
On the bigger time frame, the rate of BTC has bounced off the resistance of $60,430. If the daily bar closes far from it and below the vital zone of $60,000, there is a chance of a correction to the $58,000-$58,500 area next week.
From the midterm point of view, the weekly bar is about to close bullish. However, the price has not accumulated enough energy for a bull run.
Related
In this case, consolidation in the zone of $58,000-$60,000 is the more likely scenario.
Bitcoin is trading at $59,729 at press time.