Financial Insights That Matter
The prices of all top 10 coins are falling today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.62% over the last day.
On the hourly chart, the price of BTC is on the way to the local support of $106,765. If bulls cannot seize the initiative, one can expect a test of the $106,500 range by tomorrow.
On the bigger time frame, traders should focus on the daily bar closure in terms of the support level of $106,827.
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If a breakout happens, the accumulated energy might be enough for a dump to the $105,000 area.
From the midterm point of view, the price of the main crypto has made a false breakout of the resistance of $109,356. If the weekly bar closes far from that mark, there is a chance of a correction to the $100,000-$105,000 zone soon.
Bitcoin is trading at $106,999 at press time.
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