The majority of the coins remain in the red zone today, according to CoinStats.
Top coins by CoinStats
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.14% since yesterday. Over the last week, the price has fallen by 5.43%.
Image by TradingView
On the hourly chart, the price of BTC has made a false breakout of the local support of $109,317, however, the rate has not bounced off far from it. If the situation does not change, one can expect a further downward move to the $109,000-$109,200 range.
Image by TradingView
On the bigger time frame, the rate of the main crypto remains under sellers’ pressure.
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If the daily bar closes around the current prices or below, traders may witness a test of the $108,000-$109,000 area by the end of the month.
Image by TradingView
From the midterm point of view, one should focus on the weekly bar closure in terms of $107,389. If a breakout happens, the correction is likely to continue to the $104,000 range.
Bitcoin is trading at $109,447 at press time.
