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.
Bulls are back in the game at the beginning of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone up by 2.11% since yesterday.
On the hourly chart, the rate of BTC might have set a local resistance of $110,266. As most of the ATR (Average True Range) has been passed, there are low chances of seeing sharp moves by tomorrow.
On the bigger time frame, the price of the chief crypto is in the middle of the channel, between the support of $106,827 and the resistance of $112,000.
As the rate is far from key levels, there are low chances of seeing sharp moves.
On the weekly chart, the rate of BTC is breaking the nearest level of $109,356. In this case, traders should focus on the bar's closure. If it happens far from that mark and with no long wick, the upward move is likely to continue to new all-time highs.
Bitcoin is trading at $109,670 at press time.
Vladislav Sopov
U.Today Editorial Team