There are no reversal signals on the market yet, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 2.64% since yesterday.
On the hourly chart, the price of BTC is rising after a false breakout of the local support of $104,688. If bulls can hold the gained initiative, one can expect a test of the resistance level of $106,207 by tomorrow.
On the bigger time frame, the rate of the main crypto has made a false breakout of yesterday’s bar’s low.
You Might Also Like
If the candle closes far from that level, buyers may seize the initiative, which may lead to a bounce back to the $107,000 mark.
From the midterm point of view, the rate of BTC has once again made a false breakout of the resistance of $109,356. If the candle closes around current prices or below, traders may witness a test of the $100,000 range shortly.
Bitcoin is trading at $105,658 at press time.
