Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Almost all top-10 coins are in the red zone today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 0.21% over the last 24 hours.
On the hourly chart, the rate of BTC remains under sellers' pressure as it is near the local support of $87,576. If a bounce back does not happen, the decline may continue to the $87,000 zone next week.
On the bigger time frame, neither bulls nor bears are dominating as the price of the chief crypto is far from the main levels.
The volume is relatively low, confirming the absence of buyers' and sellers' energy. All in all, traders are unlikely to witness sharp moves soon.
A similar situation is on the weekly chart. The rate of BTC keeps accumulating power for a further move. All in all, consolidation in the narrow range of $85,000-$95,000 is the more likely scenario until the end of the month.
Bitcoin is trading at $87,844 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team