Bitcoin is in the limit of destiny
Bitcoin in fateful range Bitcoin formed at a low price near $25,851 and is now correcting losses. There was a significant rally above the $26,500 resistance level and a break above the main downtrend line with resistance near $27,000 was formed on the hourly chart of BTC/USD.
The price of Bitcoin is now trading above the 50% level of the corrective fib of the downward movement from $28,334 to the bottom of $25,851 and above $26,500 and the 100-hour simple moving average.
Now immediate resistance is forming near the $27,400 level. Close to 61.8% of the retracement Fib level of the downward movement from the $28,334 swing high to the $25,851 swing low. The next major resistance will be near the $27,800 level.
A close above the $27,800 resistance may be the start of a decent rally. The next key resistance is near $28,000, above which the price may climb towards the $28,500 resistance.
If Bitcoin price fails to break the $27,400 resistance, it may start another decline. Immediate support on the downside is near the $27,000 level and the 100 hourly simple moving average.
Price market crypto currency
The next major support is near the $26,500 area, and once it breaks below this level, Bitcoin will experience another decline. In the mentioned case, the coin could reach the $26,000 level again, and any further losses may take Bitcoin to the $25,500 level in the short term, so the next support could be $25,000.
The total value of the global digital currency market is currently estimated at 1.14 trillion dollars, which has increased by 1.18% compared to the previous day. Currently, 46.37% of the total digital currency market is owned by Bitcoin, which has increased by 0.06% in one day.
The total volume of the digital currency market in the last 24 hours is 25.34 billion dollars, which has increased by 15.02%. The total volume in decentralized finance is currently $1.60 billion, which is 6.32% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $22.37 billion, which is 88.26% of the total 24-hour cryptocurrency market volume.
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