Bulls are trying to hold the gained initiative, even though some coins remain in the red zone, according to CoinStats.
BTC/USD
Bitcoin (BTC) is one of the biggest gainers today, rising by 2.15%.
On the hourly chart, the rate of BTC has set a local resistance of $108,182. At the moment, traders should pay attention to the daily bar’s closure in terms of that mark.
If it happens around it or above, the breakout may lead to a test of the $109,000 zone.
On the bigger time frame, the picture is also bullish. The price of the main crypto is on its way to the resistance of $108,833. If buyers can hold the gained initiative, the accumulated energy might be enough for a breakout, followed by a further upward move to the $110,000 range.
From the midterm point of view, the rate is going up after a bounce off from the support of $100,426. If the weekly candle closes above the previous bar high, there is a high chance of witnessing a test of the $112,000 resistance shortly.
Bitcoin is trading at $107,794 at press time.
Read the full article here
