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Bulls could not control the situation on the market for long, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has fallen by 2.52% over the last 24 hours.
On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $84,713 and the resistance of $91,277.
Denys SerhiichukAs most of the ATR has been passed so far, there are low chances of seeing sharp moves by tomorrow.
On the bigger time frame, the price of none of the sides is dominating. If the daily candle closes near $90,000, consolidation in the narrow range of $86,000-$92,000 is the most likely scenario.
From the midterm point of view, one should focus on the weekly bar's closure. If it happens around the currenr prices, there are low chances of seeing increased volatility soon.
Bitcoin is trading at $88,896 at press time.
Vladislav Sopov
Dan Burgin