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Bears are back in the game at the beginning of the weekend, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.64% since yesterday.
On the hourly chart, the price of BTC is rising after a false breakout of the local support of $104,135. If the daily bar closes far from that mark, there is a chance of a test of the resistance level by tomorrow.
On the bigger time frame, neither bulls nor bears are dominating. The rate of the main crypto is within yesterday's bar, which means neither side has seized the initiative yet.
Denys SerhiichukAll in all, ongoing consolidation around the current prices is the more likely scenario.
From the midterm point of view, the price of BTC has made a false breakout of the resistance of $108,353. If the weekly bar closes with a long wick, bears may be back in the game, which might lead to a drop to the $100,000 area.
Bitcoin is trading at $104,930 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