The bulls failed to seize the initiative today and cryptocurrency prices continued to decline. Solana (SOL) is the biggest loser among the top 10 coins, down nearly 22%.
Top Coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) is down the least today, down 8.45% in the past 24 hours.
BTC/USD chart by TradingView
On the hourly chart, Bitcoin (BTC) broke the local level at $29,283 and is attempting to fix above it. If the buyers succeed, the upside can continue into the key $30,000 zone.
BTC/USD chart by TradingView
On the daily timeframe, Bitcoin (BTC) managed a false breakout above the $27,757 level.
If the buy volume keeps increasing, the bullish move above the crucial $30,000 level can resume.
BTC/USD chart by TradingView
On the weekly chart, Bitcoin (BTC) has also made a false breakout above the old level at $25,831. The sell trade volume remains high, which means the bears are not going to give up. However, if the weekly candle closes above $30,000, the upcoming week could turn bullish for the leading cryptocurrency.
Bitcoin is trading at $29,203 at press time.
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