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The upward move may continue on the cryptocurrency market, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) is one of the biggest gainers today, going up by 1.65%.
On the hourly chart, the rate of Bitcoin (BTC) has broken the local resistance of $26,535. If the daily bar closes above that mark, the growth may continue to the $27,000 area tomorrow.
The price of BTC is rising for the third day in a row, which means that bulls have locally seized the initiative. However, the rate remains far from midterm growth.
In this case, the more likely scenario is sideways trading in the area of $26,500-$27,000, so the coin could get more strength for a sharp move.
A less positive picture can be seen on the weekly chart as the rate is trading near the support level. If buyers want to get back in the game, they need to restore the price to the $29,000 area. However, it might take a few weeks for that to happen.
BTC is trading at $26,634 at press time.
Arman Shirinyan
Yuri Molchan
Alex Dovbnya
