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Bulls are back in the game, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has increased by 2.14% over the last day.
On the hourly chart, the rate of BTC might have set a local resistance of $118,270. As most of the daily ATR has been passed, any sharp moves are unlikely to happen by tomorrow.
On the bigger time frame, neither buyers nor sellers are dominating. The volume remains low, confirming the absence of bulls' or bears' energy.
In this case, traders may expect sideways trading in the range of $116,000-$120,000 over the next days.
From the midterm point of view, the price of the main crypto has once again bounced off the $119,482 resistance. If the weekly candle closes far from it, bears may be back in the game, which may lead to a test of the $115,000 mark.
Bitcoin is trading at $117,954 at press time.
Vladislav Sopov
U.Today Editorial Team