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Most of the coins are bouncing off today, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 8.17% over the last 24 hours.
On the hourly chart, the rate of BTC has made a false breakout of the resistance of $90,623. If the daily bar closes far from that mark, bears may again seize the initiative, which may lead to a drop to the $89,000 area.
On the longer time frame, the price of the main crypto has continued rising after yesterday's closure. However, BTC has not accumulated enough energy for a bullish trend reversal.
Denys SerhiichukIn this case, sideways trading in the zone of $88,000-$94,000 is the more likely scenario.
From the midterm point of view, the rate of BTC is far from main levels. If the weekly bar closes around the current prices, there are low chances of seeing sharp moves soon.
Bitcoin is trading at $89,841 at press time.
Dan Burgin
Vladislav Sopov