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The market remains mainly green today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 0.11% since yesterday.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $109,550. If the daily bar closes far from that mark, sellers may seize the initiative, which may lead to a drop to the $109,000 zone.
On the longer time frame, the rate of the chief coin is approaching the resistance of $110,400.
If buyers' pressure continues and a level breakout happens, the accumulated energy might be enough for a test of the $112,000 mark.
From the midterm point of view, traders should pay attention to the weekly bar closure in terms of the $112,000 resistance. If it happens around it, there is a high probability of witnessing a new all-time high from BTC.
Bitcoin is trading at $109,409 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team