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According to CoinStats, the cryptocurrency market has turned bearish again after a slight rebound.
BTC/USD
The Bitcoin rate has fallen by 2.13% in the past day.
On the hourly chart, BTC price is more bearish than bullish as it has declined after an unsuccessful attempt to correct above the interim zone of $63,000.
If the situation does not change by the end of today, the support could be tested by tomorrow.
A similar image is also available in the daily time frame. If the bar closes below the $63,136 support level, we can expect a continued decline to the $62,000 area soon.
From a medium-term perspective, there are no reversal signals yet, meaning it is too early to think of a pullback. Additionally, if a buyer loses his $60,000 zone, the accumulated energy could be enough to throw him into his $55,000 zone.
At the time of writing, Bitcoin is trading at $62,979.
About the author
Denis Selhychuk
