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Sellers are seizing the initiative at the beginning of the weekend, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has increased by 0.26% over the last day.
On the hourly chart, the rate of BTC is in the middle of the local channel between the support at $90,286 and the resistance at $90,690. As neither side is dominating, there are low chances to see sharp moves by tomorrow.
On the bigger time frame, the price of the main crypto is within the previous daily bar, which means neither bulls nor bears have seized the initiative.
In this regard, sideways trading in the zone of $90,000-$92,000 is the more likely scenario until the end of the week.
From the midterm point of view, the situation is similar. If buyers want to be back in the game, they need to restore the rate of BTC above the resistance of $94,652. If that happens, the accumulated energy might be enough for a test of the $100,000 zone.
Bitcoin is trading at $90,503 at press time.
Denys Serhiichuk
Caroline Amosun
Vladislav Sopov
Tomiwabold Olajide