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Bulls are dominating over bears on the first day of the weekend, according to CoinStats.
BTC/USD
Unlike other coins, the price of Bitcoin (BTC) has declined by 0.11% over the last 24 hours.
On the hourly chart, the rate of BTC has made a false breakout of the local support of $109,255. However, if a bounce back does not happen, the fall is likely to continue to the $109,000 area by tomorrow.
On the bigger time frame, the situation is less clear. The price of the main crypto is within yesterday's bar, which means neither side is dominating.
In this case, consolidation in the area of $109,000-$110,000 is the more likely scenario over the next days.
From the midterm point of view, the rate of BTC keeps going down after a false breakout of the resistance of $117,622. If the drop continues to the support of $107,389, one can expect a test of the $105,000 zone soon.
Bitcoin is trading at $109,352 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team