Sellers are again dominating buyers, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) is almost unchanged since yesterday.
On the hourly chart, the price of BTC is near the local resistance of $99,089. If sellers’ pressure continues, one can expect a level breakout, followed by a move to the $100,000 area.
A less positive picture can be seen on the bigger time frame. Even if the daily bar closes around current prices, not enough energy has been accumulated yet for a further upward move.
In this case, sideways trading in the range of $97,000-$100,000 is the more likely scenario.
From the midterm point of view, the rate of BTC is in the middle of the wide channel. If nothing changes by the end of the week, there are low chances of seeing sharp moves soon.
Bitcoin is trading at $98,300 at press time.
