U.Today - The prices of most of the coins are rising, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 1.53% since yesterday.
On the hourly chart, the price of BTC is breaking the local resistance of $93,908. If the daily bar closes above that mark and with no long wick, growth may continue to the $95,000 area soon.
On the bigger time frame, the rate of the main crypto is growing after a false breakout of the $91,407 level. However, BTC might need more time to accumulate energy for a continued upward move.
In this case, sideways trading in the narrow range of $93,000-$95,000 is the most likely scenario.
From the midterm point of view, the situation is similar, as none of the sides has enough energy to seize the initiative. Bulls may start thinking about further growth only if they restore the rate to the $99,000 mark and above.
Bitcoin is trading at $94,212 at press time.
This content was originally published on U.Today
