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 rates of all top 10 coins are rising today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has increased by 2% over the last 24 hours.
On the hourly chart, the price of BTC is in the middle of the channel, between the support of $110,597 and the resistance $111,787.
If the daily bar closes near the upper level, there is a possibility of a breakout, followed by a further upward move to the $113,000 range.
On the bigger time frame, one should pay attention to the daily bar closure in terms of $111,775. If a breakout happens, one can expect a test of the $113,000-$114,000 area soon.
From the midterm point of view, it is too early to make any far predictions. The volume is low, which means neither bulls nor bears are ready to seize the initiative. In this case, sideways trading in the zone of $110,000-$114,000 is the more likely scenario.
Bitcoin is trading at $111,369 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team