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Sellers have again seized the initiative, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 2% over the last 24 hours.
On the hourly chart, the situation is rather bearish as the price is close to the support level.
Denys SerhiichukIf the picture does not change by the end of the day, there is a possibility of seeing a breakout, followed by a further decrease to the $101,000 zone.
On the longer time frame, there are no reversal signals yet. If today's candle closes near its low, the decline is likely to continue to the vital area of $100,000.
From the midterm point of view, the situation is similar. The volume keeps falling, which means buyers are not ready yet for a reversal. A drop below $100,000 is the most likely scenario.
Bitcoin is trading at $102,256 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.
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov