Financial Insights That Matter
Buyers are more powerful than sellers today, however, there are some exceptions to the rule, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.37% since yesterday.
On the hourly chart, the rate of BTC is near the local support of $104,232. If the bounce back does not happen until tomorrow, traders can expect a test of the $104,000 range shortly.
On the daily time frame, the price of the main crypto has once again bounced off the resistance of $106,635. If the candle closes near its low, there is a chance to see an ongoing downward move to the $103,000-$104,000 area.
From the midterm point of view, none of the sides is dominating as the rate is far from the key levels.
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In addition, the volume is going down, which means traders are unlikely to witness sharp moves soon.
Bitcoin is trading at $104,696 at press time.
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