Buyers remain weak at the start of the weekend, according to CoinMarketCap.Top coins by CoinMarketCap
The rate of Bitcoin BTCUSD has dropped by 0.66% over the last 24 hours.Image by TradingView
On the hourly chart, the price of BTC is trying to break the local resistance level of $61,128. If that happens, the upward move may continue to the $61,500 area.Image by TradingView
Despite today’s slight rise, the overall technical picture on the daily time frame remains bearish. At the moment, one should pay attention to the vital zone of $60,000.
If it breaks out, the accumulated energy might be enough for a support breakout, followed by a test of $58,000.Image by TradingView
From the midterm point of view, one should focus on the weekly candle closure. If it happens far from $59,112, there is a chance to see a bounce back to the $62,000 area soon.
Bitcoin is trading at $61,062 at press time.