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The crypto market is growing on Wednesday, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has increased by 4.86% since yesterday.
On the hourly chart, the rate of BTC has made a false breakout of the local resistance at $96,794. If the daily candle closes far from that mark, traders can expect a correction to the $95,000 zone.
On the longer time frame, the price of the main crypto is testing the resistance at $96,736.
If it breaks out, the accumulated energy might be enough for a blast to the $100,000 range.
From the midterm point of view, one should focus on the nearest level at $96,736. If the weekly candle closes above that mark, traders may witness a test of the $100,000-$110,000 zone.
Bitcoin is trading at $96,597 at press time.
Tomiwabold Olajide
Denys Serhiichuk
Gamza Khanzadaev
Godfrey Benjamin