Bears are back in the game at the beginning of the weekend, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.66% over the last 24 hours.
On the hourly chart, the rate of the main crypto is in the middle of the local channel. As most of the daily ATR has been passed, sharp moves are unlikely to happen.
On the bigger time frame, the situation is similar. The price of BTC is within yesterday’s bar, which means neither bears nor bulls are dominating. All in all, ongoing sideways trading in the range of $102,000-$106,000 is the more likely scenario.
From the midterm point of view, one should focus on the weekly candle closure. If it happens around $105,000 and with no long wick, the accumulated energy might be enough for a test of the resistance by the end of the month.
Bitcoin is trading at $103,319 at press time.