According to CoinStats, the bulls are trying to take control, but there are some exceptions.
BTC/USD
Bitcoin (BTC) price has fallen 0.16% since yesterday.
On the hourly chart, the BTC rate is in the middle of a local channel between support at $110,478 and resistance at $109,370.
However, if the daily bar closes near the upper limit, a breakout and further rally to the $111,000 mark is likely.
On larger time frames, neither side has the upper hand as the prices of major cryptocurrencies are far away from their major levels. In this case, a scenario where it trades sideways around the current price becomes more likely.
The situation is similar from a medium-term perspective. Volume is decreasing, which means we are unlikely to see any sharp moves anytime soon.
At the time of writing, Bitcoin is trading at $109,970.
