All of the top 10 coins remain under bears’ pressure today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has dropped by 2.17% since yesterday.
On the hourly chart, the rate of BTC has made a false breakout of the local support of $108,777. However, if the bounce back does not happen, traders may expect a dump to the $108,000 zone by tomorrow.
On the longer time frame, there are no reversal signals yet.
You Might Also Like
If the daily bar closes below yesterday’s candle’s low, traders may witness a test of the $107,389 level by the end of the week.
From the midterm point of view, the rate of the main coin is going down after a false breakout of the $117,622 resistance. If the price of BTC closes around the current levels or below, the accumulated energy might be enough for a move to the $104,000 range.
Bitcoin is trading at $109,295 at press time.