Bitcoin has started the new workweek with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $65,501.41 (+1.88%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $4,697.34 (+2.3%), while Binance Coin is up by 1.17% and is now trading at $645.91.
FxPro's team of analysts say:
"Bitcoin has added 1% since the start of the day and almost unchanged (-0.3%) to seven-day old levels at $65,800. Since last Wednesday, consolidation has been seen in a very narrow range for the crypto. However, this setup is more on the side of the bulls. Bitcoin has found local support on dips to the previous resistance level at $63,500.
The RSI on the daily charts for the BTC/USD pair remains at an impressive distance from the overbought area. The 50-day moving average is reaching the same degree of slope that we saw about a year ago.
The greed and fear index remains at 72, showing a truly narrow and steady sideways trend, deviating slightly from this level over the past five weeks. The stability of the index on the verge of overheating is a healthy sign of a bull market.
In general, over the past seven days there have been profit-taking processes or investors jumping from one currency to another. The total market capitalization of cryptocurrencies has changed little, remaining close to $2.87 trillion with Bitcoin and $1.62 trillion without it."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,860,610,422,280.
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