Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bears remain weaker than bulls today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.55% since yesterday.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $115,258. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
However, if the candle closes near the resistance, growth may continue to $116,000 within the next days.
On the longer time frame, the rate of the main coin is rising after yesterday's bullish closure. If the bar closes near $116,000 with no long wick, the accumulated energy might be enough for a move to the $117,000-$119,000 zone.
From the midterm point of view, it is too early to make any long-term predictions. The volume has declined, which means sideways trading in the area of $114,000-$120,000 is the most likely scenario.
Bitcoin is trading at $115,036 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team