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Bulls are not going to give up after yesterday’s dump, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1% since yesterday.
Despite yesterday’s fall, the price of BTC is looking bullish on the hourly chart. If the breakout of the resistance of $67,645 happens, the upward move may continue to the vital zone of $70,000.
On the bigger time frame, the rate of BTC is coming back to the recently formed level of $68,577. If the daily bar closes near that mark or even above it, traders may expect to see a new all-time high for the leading crypto.
From the midterm point of view, buyers remain more powerful than sellers as there are no bearish signals yet.
If the weekly candle closes with no long wick, there is a chance to see a test of the $70,000 area soon.
Bitcoin is trading at $67,058 at press time.