Does BTC have a chance to test the $18,000 mark soon? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser Rager
Bitcoin is one of the least falling coins, going down by only 0.05% over the last 24 hours.
On the hourly time frame, Bitcoin is trading sideways between the support at $16,550 and the resistance at $16,713. The daily ATR has almost passed, which means one should not expect any sharp moves until the end of the day. Thus, a new gap will be formed at the $16,530 mark, where trading on CME closed.
On the bigger chart, today's drop has not affected the position of Bitcoin . The price keeps trading sideways with neither bullish nor bearish signals.However, if buyers want to seize the initiative, they should bring the rate back to the nearest resistance level at $17,240. Even though the previous weekly candle was bearish for Bitcoin , the current one is likely to close in the green area. If that happens, traders might hope for a short-term correction to the resistance zone around $18,000.
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