Financial Insights That Matter
Bulls are controlling the situation on the market on the last day of the week, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 1.80% over the last day.
On the hourly chart, the rate of BTC is going up after breaking the local resistance of $104,094.
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If bulls can hold the gained initiative and the daily candle closes far from that mark, the growth may continue to the $106,000 area.
On the bigger time frame, the price of the main crypto is testing the $104,985 level. If a breakout happens and the bar closes with no long wick, the accumulated energy might be enough for a continued upward move to the $107,000 zone.
From the midterm point of view, traders should focus on the weekly bar closure in terms of the $108,364 level. Unless a breakout happens, there is a chance of a correction to the $100,000 mark.
Bitcoin is trading at $104,830 at press time.
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