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.
Most of the coins are under sellers' control, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 3.63% over the last day.
On the hourly chart, the price of BTC is near the local support of $87,010. If the daily bar closes below that mark, traders may expect an ongoing decline to the $86,000 area soon.
On the bigger time frame, the rate of the main crypto is far from the key levels.
As none of the sides is dominating, sideways trading in the range of $86,000-$89,000 is the most likely scenario.
From the midterm point of view, the situation is similar. The volume keeps falling, which means there are low chances to expect sharp moves soon. All in all, traders may witness consolidation in the zone of $84,000-$90,000 until the end of the month.
Bitcoin is trading at $87,170 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team