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The cryptocurrency market remains bullish at the end of the week, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 1.26% over the last day.
On the hourly chart, the rate of BTC is bullish as it is about to break the local resistance of $120,577. If it happens, the upward move may continue to the $121,000 area by tomorrow.
On the longer time frame, the price of the main coin is bullish until it is above the $117,622 mark.
As there are no reversal signals yet, traders may witness a test of the resistance level of $123,236 over the next few days.
From the midterm point of view, the rate of BTC is approaching the resistance of $123,236. If bulls' pressure continues, one can expect a level breakout, followed by growth to a new all-time high.
Bitcoin is trading at $120,401 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team