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The crypto market is buying and selling within the inexperienced zone for the second-consecutive day this week.
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Bitcoin is closing in on the $17k resistance stage and will cross it just a few hours from now.
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The full crypto market cap is now near $815 billion.
Bitcoin closes in on the $17k stage
Bitcoin, the world’s main cryptocurrency by market cap, has been performing positively for the second-consecutive day. The main cryptocurrency has been struggling beneath the $17k resistance stage over the previous few weeks.
At press time, the price of Bitcoin stands at $16,886, up by lower than 1% within the final 24 hours. With the bulls gathering momentum, Bitcoin may quickly surge previous the $17k resistance stage within the close to time period.
Bitcoin’s constructive efficiency aligns with that of the broader cryptocurrency market. The full crypto market cap stands at $813 billion, up by 0.36% within the final 24 hours. The constructive efficiency comes after the market misplaced lower than 1% of its worth yesterday.
Ether, the second-largest cryptocurrency by market cap, can also be buying and selling within the inexperienced zone. To date at this time, the price of Ethereum is up by 0.26% and at the moment stands at $1,223.
Key ranges to look at
The BTC/USD 4-hour chart has turned bullish as Bitcoin has been performing effectively over the previous few days. The technical indicators present that Bitcoin could possibly be making ready for a breakout within the close to time period.
The MACD line crossed into the constructive zone just a few hours in the past, an indication that the bulls are at the moment accountable for the Bitcoin market. The 14-day RSI of 51 additionally reveals that Bitcoin is impartial however may head into the overbought area if it embarks on a rally.
If the bullish pattern grows stronger, BTC may transfer previous the primary main resistance stage at $17,178 earlier than the tip of the day.
Nevertheless, Bitcoin would wish the help of the broader crypto market to rally towards the $17,982 resistance stage over the approaching days.
The place to purchase Bitcoin now
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