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The crypto market continues the weekend's growth, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 1.3% since yesterday.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $125,115.
However, if the daily bar closes above that mark, the upward move is likely to continue to a new all-time high.
On the longer time frame, one should focus on the candle's closure in terms of the $124,517 level. If its breakout occurs, traders may expect ongoing growth to new peaks.
From the midterm point of view, the picture is similar. If the weekly bar closes above the $124,517 level, there is a high chance of seeing a continued rise.
Bitcoin is trading at $124,725 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team