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The market keeps going down today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.23% over the last day.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $102,090.
If the daily bar closes far from that level, traders may witness a test of the $100,000 zone soon.
On the longer time frame, the picture is rather more bearish than bullish. If the breakout of the support happens, the accumulated energy might be enough for a move to the $98,000 mark.
From the midterm point of view, the situation is similar. The volume remains low, confirming the absence of bulls’ energy. If buyers cannot seize the initiative, the drop may lead to the test of the $95,000-$98,000 range by the end of the month.
Bitcoin is trading at $101,415 at press time.
Read the full article here
