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The majority of the coins are in the green zone at the beginning of the weekend, however, there are some exceptions, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone up by 0.26% over the last 24 hours.
On the hourly chart, the rate of BTC has bounced off the resistance of $107,535. However, if the daily bar closes near the resistance or above, there is a chance of a test of the $108,000 zone by tomorrow.
On the bigger time frame, the price of the main crypto is within yesterday's bar, which means that neither bulls nor bears have gained enough energy to seize the initiative.
In this case, sideways trading in the narrow range of $107,000-$108,000 is the more likely scenario.
On the weekly chart, one should focus on the weekly bar closure in terms of the previous candle high. If it happens above $109,000, traders may expect a test of the resistance of $112,000 the following week.
Bitcoin is trading at $107,391 at press time.
Vladislav Sopov
U.Today Editorial Team