The market remains under bears’ pressure, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has dropped by 0.11% over the last 24 hours.
On the hourly chart, the rate of BTC is near the local resistance of $96,469. If the daily bar closes near that mark, one can expect a level breakout, followed by further growth to the $97,000 area.
A less positive picture can be seen on the longer time frame. The price of the main crypto is far from key levels.
If the candle closers around the current prices, ongoing sideways trading in the narrow range of $95,000-$97,000 is the most likely scenario.
From the midterm point of view, the situation is similar. The volume is low, which means none of the sides is ready for a sharp move. All in all, traders are unlikely to witness ups or downs by the end of the week.
Bitcoin is trading at $95,641 at press time.
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