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Almost all of the top 10 coins have started a new week with a correction, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) is almost unchanged since yesterday.
On the hourly chart, the rate of the main crypto has fixed below the mirror level of $118,668. If nothing changes by the end of the day, the drop is likely to continue to the $117,500 mark.
On the longer time frame, bears have seized the initiative after yesterday's bullish closure.
However, the price of BTC is far from key levels, which means sideways trading is the more likely scenario over the next few days.
From the midterm point of view, the picture is similar. None of the sides is dominating, which is also confirmed by falling volume. All in all, traders may expect a consolidation in the range of $116,000-$120,000 by the end of the month.
Bitcoin is trading at $118,093 at press time.
Vladislav Sopov
U.Today Editorial Team