The end of the year is under bulls’ control, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has risen by almost 1% over the past day.
On the hourly chart, the rate of BTC has made a false breakout of the local resistance at $88,889. However, if buyers can seize the initiative and keep the price near that mark, growth may continue to the $90,000 zone.
From the midterm point of view, the picture is less bullish. The rate of the chief crypto is far from the support and resistance levels, which means the sideways trading around the current prices is the most likely scenario until the end of the week.
From the midterm point of view, the situation is similar. The volume keeps falling, confirming the absence of buyers and sellers’ energy.
You Might Also Like
All in all, traders may expect continued consolidation in the narrow range of $86,00-$92,000.
Bitcoin is trading at $88,574 at press time.