U.Today - Some coins have come back to the green zone, while others keep falling, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has set a new all-time high, going up by 1.85%.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $109,323. If the daily bar closes far from that level, the drop may continue to the $104,000 area.
On the bigger time frame, traders should focus on the daily candle's closure in terms of the resistance of $108,364. If it happens far from it, there is a possibility to see a correction to the $102,000-$104,000 range.
From the midterm point of view, the picture is similar. However, it is too early to make any distant predictions, as many days remain until the weekly bar's closure.
But if the breakout of the upper line occurs, growth is likely to continue to the new peaks.
Bitcoin is trading at $106,512 at press time.
This content was originally published on U.Today
