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Almost all coins from the top 10 list are in the red zone, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 0.44% since yesterday.
On the hourly chart, the price of the main crypto is testing the local support of $106,729. If it breaks out, the decline is likely to continue to the $106,000 zone on the weekend.
On the daily time frame, the situation is neutral as none of the sides has seized the initiative yet.
Such a statement is confirmed by falling volume, which means there are low chances of seeing sharp moves over the next few days.
From the midterm point of view, the situation is more positive for bulls. However, one should focus on the weekly bar's closure. If it happens around $110,000 and with no long wick, one can expect a test of the resistance of $112,000.
Bitcoin is trading at $106,788 at press time.
Vladislav Sopov
U.Today Editorial Team