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Even thought the last day of the week has started bearish for the crypto market, most of the coins have already returned to the green zone, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.22% over the last 24 hours.
On the hourly chart, the price of BTC is going down after setting a local resistance of $115,901.
If the situation does not change, there is a high chance of a support breakout, followed by an ongoing correction to the $115,300-$115,400 area.
On the bigger time frame, the picture has not changed much after yesterday. Such a statement is also confirmed by the falling volume, which means traders are unlikely to witness sharp moves over the next few days.
From the midterm point of view, the situation is similar. Neither buyers nor sellers have accumulated enough energy for a further move. In this case, accumulation in the zone of $114,000-$118,000 is the more likely scenario.
Bitcoin is trading at $115,701 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team