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The market keeps growing today, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has gone up by almost 1% over the last day.
On the hourly chart, the rate of BTC might have set a local resistance of $82,923. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
Denys SerhiichukHowever, if the candle closes around current prices, there is a chance to see a level breakout, followed by a test of the $84,000 zone.
On the bigger time frame, the price of the main crypto is far from key levels. If neither bulls nor bears seize the initiative, ongoing sideways trading in the area of $80,000-$84,000 is the most likely scenario.
From the midterm point of view, the rate of BTC has made a false breakout of the support of $76,000. If the weekly bar closes far from that mark, the bounceback may continue to the $87,000-$90,000 zone.
Bitcoin is trading at $81,940 at press time.
Vladislav Sopov
Dan Burgin