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Bulls are back to the game after a correction, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) is almost unchanged since yesterday.
On the hourly chart, the rate of BTC is falling after a false breakout of the local resistance of $104,207. If buyers cannot seize the initiative soon, one can expect a test of the $102,500 area by tomorrow.
On the bigger time frame, bulls have failed to keep growth going after a bullish candle closure.
If the bar closes near $102,000, the energy might be enough for a test of the $100,000 range.
From the midterm point of view, the price of the main crypto has made a false breakout of the resistance of $104,985. If the bar closes far from that mark, traders may witness a correction to $100,000 and below.
Bitcoin is trading at $103,073 at press time.
Vladislav Sopov
Dan Burgin