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The market is trying to stay bullish even though some coins are in the red zone, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.41% over the past day.
On the hourly chart, the price of Bitcoin (BTC) is in the middle of the local channel, between the support of $114,990 and the resistance of $115,977. As none of the sides is dominating, there are low chances of seeing sharp moves until tomorrow.
On the longer time frame, the picture is similar. The rate of the chief crypto is far from important levels, which means neither buyers nor sellers are ready to seize the initiative.
All in all, sideways trading in the narrow range of $115,000-$116,000 is the most likely scenario.
From the midterm point of view, it is too early to make any long-term predictions. The situation is neutral as the price is in the middle of a wide channel. In this regard, consolidation around the current prices is the most likely scenario.
Bitcoin is trading at $115,461 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team