According to CoinStats, most of the leading ten cryptocurrencies are experiencing gains today.
$BTC/USD
Bitcoin’s price ($BTC) has increased by 1.76% in the past 24 hours.
On an hourly basis, Bitcoin is currently breaking through a local resistance level at $78,362. Should the daily candle close above this threshold, we could see further upward momentum towards the $80,000 range.
In a broader time frame analysis, Bitcoin is on an upward trajectory following a false breakout at the $75,555 mark.
If today’s candle closes near or above current levels, traders might anticipate testing between $80,000 and $82,000 for the remainder of this week.
From a mid-term perspective, conditions appear less favorable for bullish traders. If this week’s candle closes close to support levels without significant movement upwards or downwards, there may be enough pressure built up for a decline towards around $70,000.
The current trading price of Bitcoin stands at $78,943 as of now.