Almost all top-10 coins are in the red zone today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 0.21% over the last 24 hours.
On the hourly chart, the rate of BTC remains under sellers’ pressure as it is near the local support of $87,576. If a bounce back does not happen, the decline may continue to the $87,000 zone next week.
On the bigger time frame, neither bulls nor bears are dominating as the price of the chief crypto is far from the main levels.
You Might Also Like
The volume is relatively low, confirming the absence of buyers’ and sellers’ energy. All in all, traders are unlikely to witness sharp moves soon.
A similar situation is on the weekly chart. The rate of BTC keeps accumulating power for a further move. All in all, consolidation in the narrow range of $85,000-$95,000 is the more likely scenario until the end of the month.
Bitcoin is trading at $87,844 at press time.