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The crypto market remains mainly in the green zone, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.21% over the last 24 hours.
On the hourly chart, the price of BTC is going down after setting a local resistance level of $105,023. If the sellers' pressure continues, one can expect a test of the $104,000 area soon.
On the larger time frame, neither bulls nor bears are dominating. The volume remains low, which means none of the sides is ready for a sharp move.
Denys SerhiichukAll in all, ongoing sideways trading in the narrow range of $104,000-$107,000 is the more likely scenario.
From the midterm point of view, traders should focus on the weekly bar's closure in terms of the $108,364 level. If it closes around that level, the accumulated energy might be enough to set new all-time highs.
Bitcoin is trading at $104,607 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.
Vladislav Sopov
Alex Dovbnya
Dan Burgin