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Bears are becoming more active on the last day of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by almost 2% since yesterday. Over the last week, the price has risen by 12.73%.
Despite today’s rise, the price of BTC remains bullish on the hourly chart. At the moment, it is near the local resistance level of $69,981.
If bulls can hold the gained initiative, there is a chance of a breakout followed by a move to the zone of $70,000 and above.
On the bigger time frame, one should pay attention to the daily closure in terms of the level of $69,210. If the candle closes above that mark and with no long wicks, the growth may lead to a new all-time high.
On the bigger time frame, there are also no reversal signals yet. If the weekly bar closes above the $69,000 mark, there is a high possibility of a test of the $70,000-$71,000 area next week.
Bitcoin is trading at $69,801 at press time.