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Buyers are controlling the situation at the beginning of the weekend, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 3.42% over the last 24 hours.
On the hourly chart, the rate of BTC is rising after a breakout of the local resistance of $83,974.
Denys SerhiichukIf the daily bar closes far from that mark, the upward move is likely to continue to $86,000 shortly.
On the bigger time frame, buyers are also more powerful than sellers. If the situation does not change by the end of the day, one can expect a level breakout, followed by a test of the $87,000-$88,000 area.
On the weekly chart, buyers are seizing the initiative. In this case, traders should focus on the candle closure in terms of the $88,772 level. If it happens above, the midterm rise may continue to the $92,000-$96,000 range.
Bitcoin is trading at $84,636 at press time.
Vladislav Sopov
Dan Burgin