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The market is trying to restore lost positions, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 2.13% over the last day.
On the hourly time frame, traders should focus on the level of $70,912. If the daily bar closes above it, the upward move may lead to a test of the $72,000 zone tomorrow.
On the bigger chart, bulls are also more powerful than bears. If the bar closes near the current prices, there is a possibility to see a breakout, followed by a move to a new all-time high.
On the weekly time frame, buyers may have seized the initiative. However, one should wait until the bar closes.
If it happens above $73,000 and with no long wick, we should expect a test of $75,000 shortly.
Bitcoin is trading at $71,380 at press time.
Arman Shirinyan
Alex Dovbnya
