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The market is back in the green today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 2.69% over the last day.
On the hourly chart, the rate of BTC is on the way to the resistance of $86,791. If bulls can hold the gained initiative, one can expect a level breakout, followed by a test of the $87,000 area.
On the bigger time frame, the price of the main crypto is far from the key levels. Even if the daily candle closes near its peak, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the range of $85,000-$88,000 is the more likely scenario.
From the midterm point of view, there are no reversal signals so far. In this regard, traders may witness an ongoing fall to the $80,000 mark in the next days.
Bitcoin is trading at $86,457 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team