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The market is neither bearish nor bullish in the middle of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.38% over the last 24 hours.
On the hourly chart, the rate of BTC is looking bullish after a resistance breakout. If the daily bar closes above $114,157, growth may continue to the $115,000 mark tomorrow.
On the longer time frame, the price of the main crypto is rising after yesterday's bearish bar's closure. However, even if the candle closes bullish, the energy might not be enough for a further upward move.
In this regard, consolidation in the range of $113,000-$116,000 is the more likely scenario.
From the midterm point of view, the rate of BTC has made a false breakout of the $112,660 level. If the candle closes far from that mark, traders may expect a bounce back to the $116,000 area.
Bitcoin is trading at $114,189 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team