With the weekend trading bearing fruit, Bitcoin is likely to mark its first weekly green candle in about two months. If all goes well, BTC will break its longest negative streak. This was also seen last week but the popular crypto had failed to hold onto the momentum. Traders have mixed opinions.
At the time of writing this article, Bitcoin was trading at $31,199. It has been up by nearly 5% in the last 24-hours, as per data from CoinMarketCap. The most favored cryptocurrency equaled the previous record of six consecutive red candles in May before it broke it. As such, BTC has lost around $20,000 of its value and dumped to a year-and-a-half low.
Now, traders are anticipating the best but are still quite bullish. Pierre, a crypto trader, said it’s very hard to tell. He says it’s all about daily trends and the recent highs put at $32,000. Pierre highlighted that gaps above are big enough to be interesting to even go beyond the $32,000 mark. He believes a close like this for the weekly would be pretty indecisive. Crypto Santa, a popular Twitter account, says Bitcoin is likely to get a weekly close above $28,500. This would imply further ranging PA for the upcoming week.
Meanwhile, the second most popular crypto – Ethereum is trading at $1,879. It gained 5% in the last 24-hours. Cardano and Avalanche are the biggest gainers. Both altcoins are up by 10%. Solana gained 9.42%, TRON 4.38%, Polkadot 4.30%, and XRP gained 3%.