According to the CoinMarketCap ranking, the bulls have started a new week.
BTC/USD
Bitcoin (BTC) is one of the coins that has risen the least, growing less than 1%.
On the hourly chart, bitcoin (BTC) has bounced back from the recently formed level at $30,012. Bulls can hold this level; However, if the pressure continues, a sharp decline below $30,000 is likely by the end of the day.
On the daily time frame, Bitcoin (BTC) is trading in the middle of a wide range, which means that the coin is still striving for another bullish move. If the price approaches $31,000, a possible test of the $32,950 resistance can be expected in the coming days.
From a medium-term perspective, the continued decline of Bitcoin (BTC) could be halted as the rate trades above the crucial $30,000 mark. If the bears cannot seize the initiative and the selling volume remains low, the current weekly candle could turn bullish for the major cryptocurrency.
Bitcoin is trading at $30,232 as of press time.