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The weekend has started with a market bounce back, according to CoinMarketCap.
The rate of Bitcoin (BTC) has risen by 1.45% over the last 24 hours.
Despite today's rise, the price of BTC is looking bearish on the hourly chart as it is on the way to the local support of $67,616. If buyers fail to seize the initiative, traders may expect a test of $67,000 tomorrow.
On the daily time frame, the situation has almost not changed since yesterday from the technical point of view. This statement is also confirmed by the falling volume.
In this case, ongoing sideways trading in the area of $67,000-$69,000 is the more likely scenario for the next days.
On the weekly chart, the price of BTC has once again bounced off the support level of $64,522. At the moment, one should pay attention to the candle closure in terms of the previous bar low of $66,407. If it happens below it, the drop is likely to continue to the $60,000 zone.
Bitcoin is trading at $67,785 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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