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There is no one-way trend on the market today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.31% since yesterday.
On the hourly chart, the price of BTC is going up after a false breakout of the local support of $103,757.
If growth continues, one can expect a test of the resistance of $105,972 shortly.
On the bigger time frame, bulls have failed to keep the rise going after yesterday's bullish closure. If the bar closes near the support, traders may witness a breakout, followed by a move to the $103,000 range.
From the midterm point of view, it is too early to make any distant predictions. If the weekly candle closes near $104,000 or below it, sellers may seize the initiative, followed by an ongoing decline to the $100,000 zone.
Bitcoin is trading at $104,391 at press time.
Vladislav Sopov
U.Today Editorial Team