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According to CoinMarketCap, the prices of most coins have continued to rise.
BTC/USD
The price of Bitcoin (BTC) is up 0.33% in the last 24 hours.
Despite today’s slight increase, BTC price is moving sideways on the local chart as the price is in the middle of the channel. If buyers want to take the initiative, they will need to bring the price back above the $27,200 zone. Only in this case there is a chance of seeing a resistance breakout.
On the larger time frame, neither bulls nor bears dominate as price continues to move in the channel. However, buyers are likely to be stronger than sellers as the price is closer to resistance than support.
If there is a break above $27,537, the uptrend could continue to the $28,000 area and above.
A similar situation can be seen on the weekly chart. For now, you should focus on closing the candle. If the price is above the previous bar high, there is a possibility that a test of resistance will occur soon.
At press time, BTC is trading at $26,878.
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