Can BTC rise despite the underperformance of major altcoins? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser
BTC/USDOn the hourly chart, Bitcoin is trading in the narrow range, accumulating power for the further move. The price has made a false breakout of the support at $16,778 and now is on the way to the resistance at $16,889.If buyers can hold the initiative, the correction may continue tomorrow.
On the bigger time frame, the rate of Bitcoin has bounced off the recently formed support level at $16,815. If the bar can close above it, traders have a chance of seeing a test of the $17,000 zone until the end of the week. From the mid-term point of view, the rate of Bitcoin has not decided yet which way to go as the price remains in the channel. At the moment, one should pay attention to the zone of $17,000, the breakout of which may be the prerequisite for the return to the $18,000 mark.
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