According to CoinStats, the correction did not last long and the market turned green again.
BTC/USD
The Bitcoin (BTC) rate has increased by 3% since yesterday.
On the hourly chart, BTC price is rising after a local resistance breakout. Volume is increasing, which means the bulls are in control of the market at the moment.
If the situation does not change by tomorrow, the rally could continue to the $92,000 level.
On a longer time frame, the rates of major cryptocurrencies are far from their major levels. Neither the bulls nor the bears have the upper hand, so a sideways trade in the $89,000 to $92,000 range is the most likely scenario this week.
The situation is similar from a medium-term perspective. Volume continues to decline, meaning traders are unlikely to experience a sharp rise or fall in the near future.
At the time of writing, Bitcoin is trading at $89,912.
