The rates of most of the coins are coming back to the red zone, according to CoinStats.
BTC/USD
Unlike other coins, the price of Bitcoin (BTC) has risen by 0.23% over the last day.
Despite today’s growth, the rate of BTC is looking bearish on the hourly chart. If a breakout of the local support happens, the fall is likely to continue to the $120,000 area.
On the longer time frame, buyers have failed to keep the rise going after yesterday’s bullish closure.
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If the daily bar closes around the current prices or below them, sellers may seize the initiative, which may lead to a test of the $118,000-$119,000 range.
From the midterm point of view, the rate of BTC has marked a false breakout of the $125,725 level. If the weekly bar closes far from that mark, the drop may continue to the $118,000 zone.
Bitcoin is trading at $121,250 at press time.