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The market is neither bearish nor bullish at the end of the year, according to CoinStats.
Bitcoin/US Dollar
The price of Bitcoin (BTC) has increased by 2.2% in the past 24 hours.
On the hourly chart, BTC price breaks the local resistance of $94,532. If the daily bar closes away from it, there is a chance to see a test of the $97,000 area by January 1st.
On the larger time frame, Bitcoin price bounced back from the $91,760 support level. If the candle closes near $96,000, traders could expect continued growth to the $98,000 range soon.
From a mid-term perspective, the picture looks less positive.
Related to
Trading volume continues to decline, which means that neither side is taking the initiative, and there are low chances of seeing any sharp moves soon.
Bitcoin is trading at $95,422 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the opinions 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.
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