The bullish trend might not have ended yet, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) remains one of the biggest gainers, rising by 5.28%.
Despite today’s rise, the price of BTC keeps looking bullish on the hourly chart. Traders should focus on the nearest resistance of $44,349. If the bar closes near it, growth is likely to continue to $44,500 soon.
On the bigger time frame, yesterday’s high bar plays a key role in terms of further price moves.
As there are no bearish signals yet, the breakout, followed by a blast to $45,000 is the more likely scenario for the next days.
From the midterm point of view, the rate of BTC is far from the resistance of $48,200. However, if the candle closes with no long wick, there is a high possibility to expect a test of that level this month.
Bitcoin is trading at $44,235 at press time.