According to Coinstats, the Bears are back in the game.
BTC/USD
Bitcoin (BTC) prices have fallen 0.88% in the past day.
On the hourly chart, the rate of BTC is in the middle of the local channel. Most of the daily ATRs have been passed, making it less likely that you will see sharp movements in the short term.
With a larger time frame, the Bulls were unable to continue growing after yesterday’s bullish closure. Similarly, the prices of major cryptos are currently far from critical levels.
In this case, sideways trading in the $105,000-$110,000 range is more likely to be a scenario.
From a medium-term perspective, the focus should be on weekly candle closures at the $109,356 level. If the bar is closed and there is no long core, the upward movement can follow a new peak.
Bitcoin is trading at $109,192 at press time.
