Monday has started bullish for the cryptocurrency market, according to CoinMarketCap’s rankings.
The price of Bitcoin (BTC) has risen by 4.55% since yesterday.
On the local chart, Bitcoin (BTC) is approaching the recently formed resistance level at $24,200. If a breakout occurs, the price may get to the $24,500 zone by the end of the day.
On the bigger time frame, Bitcoin (BTC) has broken the $24,000 mark, which means that bulls are ready for a continued rise. If the daily candle closes near $24,445, it may lead to growth to the $25,000 area until mid-August.
On the weekly chart, bulls have continued their upward move. If they can hold the price of Bitcoin (BTC) above the $24,000 mark until the end of the week, there are high chances to see a test of the mirror level at $25,400 within the next few days.
Bitcoin is trading at $24,111 at press time.