Bitcoin (BTC), the largest cryptocurrency in the world, kept going up and crossed the $17,200 mark as market participants continued to react to the news that US inflation data will be released this week.
The cryptocurrency market as a whole is still strong, and both Bitcoin and Ether are up slightly after yesterday’s big gain.
Good macroeconomic conditions are also helping the value of crypto assets go up, which could be a good sign for the crypto market in the long run.
Bitcoin Price Today
bitcoin price prediction
At the moment, the price of Bitcoin is $17,200, and $18 billion worth of Bitcoin is traded every 24 hours. Bitcoin is showing a small bearish reversal after it failed to break through the $17,400 resistance level.
As the goal of $17,200 gets closer, it is getting a lot of support quickly. The next resistance level for Bitcoin’s price is at $17,400. This can be reached if the $17,200 level is broken.
Bitcoin price prediction daily
Bitcoin made a bearish engulfing candle on the 4-hour time frame, which suggests that the market may go through a bearish correction before showing another buying trend in BTC.
Bitcoin price prediction today
If this wall is broken, the downtrend could continue until the next support levels at $16,800 or $16,650. On the bearish side, the level of $17,000 is expected to act as a support right away.