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The weekend has started with overall market growth, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has increased by 1.44% over the last 24 hours.
On the hourly chart, the rate of the main crypto is near the local resistance of $105,718.
If a breakout happens, there is a chance of a test of the $106,000-$107,000 area shortly.
On the bigger time frame, the picture is also bullish. If buyers can bring the price of BTC above the $106,329 level, the accumulated energy might be enough for a move to the $108,000 zone.
From the midterm point of view, the rate of BTC has made a false breakout of the resistance of $100,764. However, buyers might need more time for further growth. In this regard, sideways trading in the range of $104,000-$108,000 is the more likely scenario.
Bitcoin is trading at $105,550 at press time.
Vladislav Sopov
U.Today Editorial Team