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Bulls are losing their positions at the beginning of the week, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has remained the same since yesterday.
The rate of BTC has once again bounced off the local support of $82,790. If the daily bar closes far from that mark, one can expect a test of the resistance level by tomorrow.
On the bigger time frame, the price of the main crypto is far from support and resistance levels. The volume keeps falling, which means none of the sides is ready to seize the initiative.
Denys SerhiichukIf the situation does not change by tomorrow, ongoing sideways trading in the range of $82,000-$84,000 is the most likely scenario.
From the midterm point of view, it is too early to make any distant predictions. If the weekly bar closes far from the support of $78,200, there is a chance to see a bounce off to the $86,000-$88,000 area.
Bitcoin is trading at $83,000 at press time.
Vladislav Sopov
Dan Burgin