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The market is mainly rising on the first day of the weekend, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.68% over the last 24 hours.
On the hourly chart, the rate of BTC has set a local resistance at $87,702. However, if the daily bar closes near that mark, traders may see further growth to the $88,000 zone shortly.
On the bigger time frame, neither side has accumulated enough energy to seize the initiative.
In this case, consolidation in the narrow range of $87,000-$89,000 is the more likely scenario.
From the midterm point of view, the picture is similar. The price of the main crypto is in the middle of the channel, which means traders are unlikely to see increased volatility until the end of the month.
Bitcoin is trading at $87,532 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team