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Sellers have seized the initiative today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 4.58% since yesterday.
On the hourly chart, the price of the main crypto is closer to the local resistance level than to the support. If the rate gets back to $99,000, one can expect a test of the psychological mark of $100,000 shortly.
On the daily time frame, the picture remains bullish as the price is near the level of $99,800. If its breakout happens, there is a high chance to see BTC again at $100,000 and above.
From the mid-term point of view, one should wait until the weekly bar closes. If it happens near $99,800, bulls have chances for an ongoing growth.
Denys SerhiichukHowever, if the false breakout happens, traders may witness a correction move to the $92,000 area.
Bitcoin is trading at $98,038 at press time.
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.
Alex Dovbnya
Dan Burgin
Vladislav Sopov