The bitcoin (BTC) price has shown a positive movement again today! The price has thus returned to the resistance zone at USD 58,000, are we breaking through now? In addition, we see that dogecoin (DOGE) still manages to hold its own despite the enormous rise and dip that the altcoin showed today.
Bitcoin (BTC) forms higher low and recovers
Yesterday you could see how bitcoin took another step down and thus reached a low of exactly $ 53,000 on crypto exchange Coinbase. This was a slightly higher low than the swing low on April 29, so the structure remained intact. It was a matter of waiting to see whether the price would still fall further and drop a lower low.
This turned out to be the case. Bitcoin has risen again since last night. Bitcoin is almost 9% up from the aforementioned low at the time of writing, approaching the resistance zone again at USD 58,000. Now it remains to be seen whether the bulls also have the strength to break through this strong resistance!
In any case, the well-known Dutch analyst PlanB cannot wait for the second round of this bull market:
Crypto top 10 turns green
In addition to bitcoin, all altcoins in the top 10 also turned up. Ethereum (ETH) rose 3.3% in value over the past 24 hours and is now worth $ 3,372, Binance coin (BNB) is up 5% to be worth $ 646 and dogecoin (DOGE) is at number 4 over 6% in green and is therefore worth $ 0.57.
Dogecoin therefore seems to be able to hold on to its bizarre rise for the time being. Compared to 7 days ago, the meme coin is 82% in the plus. This analyst hopes it will hit $ 1 as he expects a major pullback here. A small pullback has already taken place in which DOGE declined in value by 20% within two hours. However, this dip was soon bought back.
All in all, the crypto market rose again in value. All cryptocurrencies combined are now worth $ 2.34 trillion, 6.6% more than 24 hours ago. So it was another green day today!