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The majority of the coins are rising in the middle of the week, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1.57% over the last 24 hours.
On the hourly chart, the price of BTC is near the local support of $91,800. If a bounce off does not happen until tomorrow, traders may expect a level. breakout, followed by an ongoing correction to the $91,000 zone.
On the longer time frame, one should focus on the bar's closure in terms of the $94,172 level. Until the rate is below that mark, there is still a chance to see a more profound drop.
However, if the price fixes above the resistance, the accumulated energy might be enough for a blast to the $96,000-$98,000 range.
From the midterm point of view, none of the sides has enough strength for a sharp move. This is confirmed by the low volume. All in all, consolidation in the area of $91,000-$96,000 is the most likely scenario until the end of the month.
Bitcoin is trading at $91,989 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team