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The crypto market remains in the green for a second consecutive day this week.
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Bitcoin is approaching the $17,000 resistance level and could break it within hours.
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The total crypto market capitalization is now near $815 billion.
Bitcoin closes in on the $17k level
Bitcoin, the world’s largest cryptocurrency by market capitalization, has seen positive momentum for a second straight day. The asset has struggled to clear the $17,000 resistance level over recent weeks, but buying pressure is building.
At the time of writing, the price of Bitcoin is $16,886, up modestly in the past 24 hours. With bulls gaining traction, Bitcoin may push above the $17,000 barrier in the near term.
Bitcoin’s upside movement is consistent with gains across the broader cryptocurrency market. The total market cap for all cryptocurrencies is approximately $813 billion, up around 0.36% in the last 24 hours, rebounding after a small intraday pullback yesterday.
Ether, the second-largest cryptocurrency, is also trading higher. The price of Ethereum is about $1,223, up roughly 0.26% today.
Key levels to watch
The BTC/USD 4-hour chart has turned bullish after several days of gains. Technical indicators suggest Bitcoin could be preparing for a near-term breakout.
BTC/USD Chart By TradingView
The MACD recently moved into positive territory, signaling that buyers currently have the upper hand. The 14-day RSI sits near 51, indicating a neutral stance that could shift toward overbought conditions if a sustained rally develops.
If bullish momentum continues, Bitcoin could challenge the first significant resistance around $17,178 before the end of the day.
For a push toward the next resistance level near $17,982 in the coming days, Bitcoin will need continued support from the overall crypto market.
Where to buy Bitcoin now
Choose a reputable cryptocurrency exchange or broker that offers strong security, clear fee structures, and a variety of payment options. Consider factors such as regulatory compliance, user reviews, and available trading pairs when selecting a platform. Always use secure authentication methods and consider storing long-term holdings in a private wallet.