Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market keeps going down today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.23% over the last day.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $102,090.
If the daily bar closes far from that level, traders may witness a test of the $100,000 zone soon.
On the longer time frame, the picture is rather more bearish than bullish. If the breakout of the support happens, the accumulated energy might be enough for a move to the $98,000 mark.
From the midterm point of view, the situation is similar. The volume remains low, confirming the absence of bulls' energy. If buyers cannot seize the initiative, the drop may lead to the test of the $95,000-$98,000 range by the end of the month.
Bitcoin is trading at $101,415 at press time.
Vladislav Sopov
U.Today Editorial Team