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After a slight jump, the rates of most coins have come down once again.
BTC/USD
Bitcoin (BTC) rate is almost unchanged since yesterday, despite other coins falling.
On the local time frame, the price traded above the $29,000 mark against an increase in trading volume. If the buyers can initiate, the ongoing upward move could continue towards $29,400-$29,600 by the end of the day.
On the daily chart, the rate is closer to support than resistance, meaning it is more likely to see a further decline rather than a bounceback. However, the situation may change if there is an increase of $30,000.
From the medium term point of view also the situation is more bearish. If the sellers pressure continues, traders can expect a sharp decline below the $27,757 mark. Such a scenario is relevant until the end of June.
Bitcoin is trading at $29,033 at press time.
