Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market is neutral in the middle of the week, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 0.15% over the past day.
On the hourly chart, the price of BTC is trying to fix above the $113,188 level. If it happens and the bar closes far from that mark, the upward move is likely to continue to the $114,000 area.
On the longer time frame, the rate of the main crypto is far from main levels. In this case, traders should pay attention to the daily candle's closure in terms of yesterday's bar's peak.
If it happens above it, bulls may again seize the initiative, which may lead to a test of the $114,000-$115,000 zone by the end of the week.
From the midterm point of view, none of the sides has seized the initiative yet. Such a statement is also confirmed by the low volume. All in all, sideways trading in the area of $110,000-$114,000 is the most likely scenario.
Bitcoin is trading at $113,199 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team