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There is no one-way trend on the cryptocurrency market at the beginning of the weekend, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 0.31% over the last 24 hours.
On the hourly chart, the price of BTC is approaching the local resistance level of $26,592. If the growth continues to that mark and the daily bar closes near it, traders might expect a blast to the $26,600 area and above. Such a scenario is relevant until tomorrow.
From the technical point of view, the rate of Bitcoin (BTC) remains in the same place as yesterday. As neither bulls nor bears are dominating, ongoing consolidation in the narrow range of $26,400-$26,800 is the more likely scenario for next week.
On the weekly time frame, the price has made a false breakout of the previous candle peak. If the bar closes far from it, one can expect one more wave of decline, which could lead to a drop to the $26,000 zone soon.
Bitcoin is trading at $26,575 at press time.
Gamza Khanzadaev
Godfrey Benjamin
Vladislav Sopov
Dan Burgin