Can bulls hold the gained initiative and keep the rate of BTC above $26,000? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser Rager BTChasrate BTCmining
Any sharp moves are unlikely until the end of the day as the coin has passed most of its ATR. In this case, ongoing sideways trading in the area of $26,500 is the more likely scenario.On the bigger time frame, the rate of BTC has almost tested the resistance at $26,809, where it found bears' pressure. If a local decline does not happen, traders may expect one more attempt to break out of the $26,800 zone.
If that happens, the upward move may lead to the $27,200-$27,600 area.On the weekly chart, the rate of BTC has made a false breakout of the mirror level at $24,819, which means that buyers have locally seized the initiative. However, it is too early to think about a fast reversal as the main crypto needs to accumulate more energy. Respectively, consolidation in the range of $26,000-$27,000 is the more likely scenario until the end of the month.
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