BITCOIN (BTC) |
Bitcoin, the first and most well-known cryptocurrency, is a decentralized digital currency that enables peer-to-peer transactions without the need for intermediaries like banks.
The near-term trend of BTC is currently sideways as buyers struggle to break past the $73800 resistance. However, on the downside, the support trendline prevents the asset from a major downfall.
The demand pressure at this support is evidenced by the lower wick rejection candles in the 4-hour chart sustaining the coin price above the $67921 mark. The Bitcoin market cap currently wavers at $1.327 Trillion, while the 24-hour trading volume is at $48.07 Billion.
A potential reversal from the support will reinforce sufficient momentum for buyers to rechallenge ATH at $73800.
