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 responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
The bulls were unable to maintain the initiative gained until the end of the week, according to CoinMarketCap.
Bitcoin/US Dollar
Bitcoin (BTC) price is down 0.54% since yesterday. Over the past week, the price decreased by 5.84%.
On the hourly chart, BTC price is approaching the local resistance level of $97,248. If a breakout occurs, growth may continue to the $98,000 area tomorrow.
On the larger time frame, neither side is in control. The price of the main cryptocurrency is far from key levels, which means that any sharp movements are unlikely to happen soon.
From a mid-term point of view, you should pay attention to the weekly bar closing at $97,092.
Related to
If the candle closes further away from it, traders may see a local bounce back to the $100,000 area. Such a scenario is relevant until the end of the month.
Bitcoin is trading at $96,396 at press time.
Source link