Buyers remain weak at the start of the weekend, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 0.66% over the last 24 hours.
On the hourly chart, the price of BTC is trying to break the local resistance level of $61,128. If that happens, the upward move may continue to the $61,500 area.
Despite today’s slight rise, the overall technical picture on the daily time frame remains bearish. At the moment, one should pay attention to the vital zone of $60,000.
If it breaks out, the accumulated energy might be enough for a support breakout, followed by a test of $58,000.
From the midterm point of view, one should focus on the weekly candle closure. If it happens far from $59,112, there is a chance to see a bounce back to the $62,000 area soon.
Bitcoin is trading at $61,062 at press time.
