Cryptocurrency market today is being ruled by bull dominance. Bitcoin (BTC) holds the same status by trading in green over the past 24 hours. The price of BTC is currently at $28,445 and is aspiring to break the resistance at $28,474. The resistance is a significant milestone that if shattered will consume the buyers’ momentum to go further and reach the important mark of $30,000. Although, the situation is not assured until the end of the week when the BitcoinBTC rate is likely to decline to the middle of the channel to $27,500 if the sellers pressure remains same.

On the hourly charts, the situation is volatile with Bitcoin (BTC) prone to a breakout leading to a sharp drop at the recent support level of $28,373. A closure with no wicks of the bar higher at $29,000 mark is also important to watch with great attention if one desires to see BTC prices at $30,000.

The market currently has a few exceptions including Litecoin, Bitcoin Cash, Chainlink and Cardano that are trading in red. The last 24 hours also show losses in the majority of altcoin indices including the main index, large-cap index, mid-cap index and small-cap index of the cryptocurrency market. With Bitcoin (BTC) set for the breakout, these indices are also likely to show gains if a bullish trend is able to materialize in the coming days.

Considering the mild gains in Bitcoin (BTC) and losses in a major portion of indices, the cryptocurrency market is witnessing an unstable phase that may witness a bullish trend in the next few days. It is essential to keep an eye on the hourly charts to keep up with the changes continuously. Bitcoin (BTC) prices above $30,000 are likely to be seen in the near future if the bulls are able to gain the momentum required.



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