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Bulls have failed to keep the market green at the beginning of the weekend, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has dropped by almost 2% since yesterday.
Despite today's decline, the rate of the main crypto is looking bullish on the hourly chart. If a breakout of the local resistance happens, the growth may continue to the $105,000 area.
From the midterm point of view, the picture is less clear.
The volume remains low, which means traders are unlikely to witness sharp moves from BTC over the next few days.
From the midterm point of view, the price is on the way to the support of $100,764. If bulls lose that mark, the accumulated energy might be enough for a test of the $98,000-$100,000 range soon.
Bitcoin is trading at $103,940 at press time.
Vladislav Sopov
U.Today Editorial Team