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.
The market is mainly green at the end of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone up by 0.52% over the last 24 hours.
On the hourly chart, the rate of BTC might have set a local support of $109,731. If the daily bar closes far from that level, one can expect a test of the resistance over the weekend.
On the longer time frame, the price of the main crypto is in the middle of the channel, between the support of $106,137 and the resistance of $115,854.
The volume is low, which means neither bulls nor bears are ready to seize the initiative.
From the midterm point of view, the situation is similar. The rate of BTC is far from key levels, confirming the absence of energy on the part of buyers and sellers. All in all, sideways trading in the range of $105,000-$115,000 is the most likely scenario.
Bitcoin is trading at $110,521 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team