The bearish trend has not arrived on the market yet, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.18% over the last day.
On the hourly chart, the price of BTC is falling after a false breakout of the resistance of $96,883. If bears’ pressure continues, one can expect a test of the support by tomorrow.
On the daily time frame, the rate of the main crypto is gathering energy for a further move. As it is far from key levels, traders are unlikely to see any sharp ups or downs.
In this regard, one can expect sideways trading in the zone of $94,000-$97,000 until the end of the week.
From the midterm point of view, the volume has declined, which means BTC might need time to accumulate energy for a further move. Likewise, consolidation in the wide range of $92,000-$98,000 is the most likely scenario.
Bitcoin is trading at $96,011 at press time.
