Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The prices of all top 10 coins are falling today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.62% over the last day.
On the hourly chart, the price of BTC is on the way to the local support of $106,765. If bulls cannot seize the initiative, one can expect a test of the $106,500 range by tomorrow.
On the bigger time frame, traders should focus on the daily bar closure in terms of the support level of $106,827.
If a breakout happens, the accumulated energy might be enough for a dump to the $105,000 area.
From the midterm point of view, the price of the main crypto has made a false breakout of the resistance of $109,356. If the weekly bar closes far from that mark, there is a chance of a correction to the $100,000-$105,000 zone soon.
Bitcoin is trading at $106,999 at press time.
Vladislav Sopov
U.Today Editorial Team