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The rates of most coins are falling at the beginning of the weekend, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone down by 0.11% over the last 24 hours.
On the hourly chart, the rate of BTC is near the local support of $104,834. If no bounce back happens by the end of the day, the breakout may lead to a test of the $104,000 area.
On the bigger time frame, bulls have failed to maintain the rise after the bullish bar closure.
From another point of view, the rate of the main crypto is far from the main levels, which means any sharp ups or downs are unlikely to happen by the end of the week.
From the midterm point of view, the picture is similar. The rate is in the middle of the wide channel, between the support of $100,764 and the resistance of $112,000. The volume is going down, which means ongoing sideways trading around the current prices is the more likely scenario.
Bitcoin is trading at $105,056 at press time.
Vladislav Sopov
U.Today Editorial Team