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The rates of most of the coins are going down on the first day of September, according to CoinStats.
BTC/USD
Bitcoin (BTC) is an exception today, rising by 0.57%.
On the hourly chart, the rate of BTC is closer to the resistance than to the support level. However, as most of the daily ATR has been passed, any sharp moves are unlikely to happen by tomorrow.
On the bigger time frame, the price of the main crypto has once again bounced off the support at $107,303.
If the daily bar closes far from that mark, there is a high chance of an ongoing upward move to the $110,000 range.
From the midterm point of view, the rate of BTC is in the middle of the wide channel. As neither buyers nor sellers are controlling the situation on the market, traders are unlikely to see increased volatility.
Bitcoin is trading at $109,199 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team