Bulls couldn’t hold the initiative for long as all coins from the top 10 list are back in the red.
BTC/USD
Bitcoin (BTC) price is down 1.35% in the last 24 hours.
Bitcoin (BTC) is feeling bearish on the hourly chart as buyers are unable to fix above the $17,000 level. If they fail to take the initiative by the end of the day, there are chances that they will break the $16,924 support level.
On the daily chart, the situation remains uncertain as volatility has decreased as neither side has enough energy for further movement.
If the bears hold their pressure on the $16,800 support, traders can expect to see BTC around $16,400-$16,600 by the end of the month.
From a mid-term perspective, it is still too early to make predictions as the main crypto has plenty of time left until the end of the week. For now, watch closely for the next level at $17,240. If the candle fixes above, there is a chance to see $18,000.
Bitcoin is trading at $17,009 at press time.
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