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The market has almost returned to red, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.31% since yesterday.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $112,579.
However, if bulls can hold the gained initiative and the daily bar closes around that mark, growth may continue to the $113,000 zone tomorrow.
On the longer time frame, the picture is more bullish than bearish. If a breakout of the $113,645 level happens, the accumulated energy might be enough for a test of the $116,000 area soon.
From the midterm point of view, the rate of the main crypto is far from the main levels. If the weekly candle closes around the current prices, sideways trading in the range of $111,000-$114,000 is the most likely scenario.
Bitcoin is trading at $112,382 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team