© Reuters. BTC Defends a Key Support Level; What Could Happen Next?
- BTC’s price has risen 0.60% over the last 24 hours.
- The market leader’s price will now look to target $17.1K.
- There are major data releases this week that will impact the financial and crypto markets.
The price of the crypto market leader, (BTC), is up 0.60% over the last 24 hours according to CoinMarketCap. As a result, BTC’s price is trading at $16,653.12 at press time. The coin’s price is still down 1.30% over the last 7 days.
Crypto analyst, Michaël van de Poppe, shared his trading strategy for BTC on Twitter yesterday. According to the analyst’s tweet, BTC held a crucial support level and is now looking to attack the next resistance.
The analyst added that he believes this week may be a good one for the crypto market, and has set a crucial bullish breakout level at $16.6k. With BTC’s price breaking this level, the next resistance level that the market leader’s price will target is $17.1k.
This week will also see significant data released which have historically impacted both the traditional finance and crypto markets. Data that will be released are the OPEC, job openings, FOMC meetings, as well as unemployment data.
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