• The crypto market is buying and selling within the inexperienced zone for the second-consecutive day this week.

• Bitcoin is closing in on the $17k resistance degree and will cross it a number of hours from now.

• The overall crypto market cap is now near $815 billion.

Bitcoin closes in on the $17k degree

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 degree over the previous few weeks. 

At press time, the value 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 degree within the close to time period.

Bitcoin’s optimistic efficiency aligns with that of the broader cryptocurrency market. The overall crypto market cap stands at $813 billion, up by 0.36% within the final 24 hours. The optimistic 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 in the present day, the value of Ethereum is up by 0.26% and presently 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 couple of days. The technical indicators present that Bitcoin might be making ready for a breakout within the close to time period.

The MACD line crossed into the optimistic zone a number of hours in the past, an indication that the bulls are presently answerable 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 degree at $17,178 earlier than the top of the day.

Nevertheless, Bitcoin would wish the help of the broader crypto market to rally towards the $17,982 resistance degree over the approaching days. 

The place to purchase Bitcoin now

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