Bitcoin (BTC), the leading cryptocurrency, appears to have experienced a drop of more than 3% this week, leading to selling pressure on altcoins. Another week has passed in the crypto market where sellers have dominated.
Bitcoin will close the week on Monday at 03:00 AM GMT, and it is expected to close around $27,200 unless there is a surprise.
Despite the declines this week, BTC managed to hold its ground around $26,600, and if it doesn't lose this support in the coming weeks, it could start rising again.
What Is the New Target for Bitcoin (BTC)?
The leading cryptocurrency Bitcoin is expected to show upward movements again next week. The absence of significant economic data that could influence BTC during the week could have a positive impact on the crypto market.
Crypto investors will be watching the major support level at $26,600 in tonight's weekly closing for BTC. It is important for BTC not to close below this support.
If Bitcoin doesn't lose the major support level of $26,600 next week, it is expected to target the $30,000 levels. Such a rise in BTC would also have a significantly positive impact on altcoins.
Our readers are advised to minimize their risk exposure to potential sharp movements before the weekly closing in Bitcoin and altcoins.
This article is not investment advice. Anyone considering investing should do their own research and take their own risks.
