– Bitcoin is edging closer to the $17k resistance level and could cross it a few hours from now.
– The total crypto market cap is now close to $815 billion.
– The BTC/USD 4-hour chart has turned bullish as Bitcoin has been performing well over the last few days.
The crypto market is having a positive day as Bitcoin and the broader cryptocurrency market are trading in the green zone. Bitcoin, the world’s leading cryptocurrency by market cap, has been struggling to break the $17k resistance level over the past few weeks. However, with the bulls gathering momentum, the leading cryptocurrency could soon surge past the $17k resistance level in the near term.
At press time, the price of Bitcoin stands at $16,886, up by less than 1% in the last 24 hours. The total crypto market cap stands at $813 billion, up by 0.36% in the last 24 hours. The positive performance comes after the market lost less than 1% of its value yesterday. Ether, the second-largest cryptocurrency by market cap, is also trading in the green zone. So far today, the price of Ethereum is up by 0.26% and currently stands at $1,223.
The BTC/USD 4-hour chart has also turned bullish as Bitcoin has been performing well over the last few days. The technical indicators show that Bitcoin could be preparing for a breakout in the near term. The current support level is at $16,500 and the resistance level is at $17,200. If Bitcoin manages to break the resistance level, it could surge to a new all-time high above $18k.
The bullish sentiment in the crypto market is evident and it appears that Bitcoin is edging closer to the $17k resistance level. However, it is important to note that the market is highly volatile and any sudden changes in the market could affect the price of Bitcoin. Nevertheless, the crypto market is currently in a positive territory and it seems that the bulls are in control of the situation.