According to Coinstats, the correction has not been going on for a long time, with all the top 10 coins residing in the green zone.
BTC/USD
The Bitcoin (BTC) ratio has increased by 1.06% since yesterday.
On the hourly chart, we made the wrong breakout of the local resistance, with BTC priced at $119,239. However, once the daily bar closes near that mark, you can expect to test the $120,000 area soon.
In the daily time frame, the main cipher speed is in yesterday’s candle. In other words, they do not control either of them.
So the volume is falling, making sure there is no strength in the bull and Bears. In this respect, integration in the range of $117,000 to $120,000 is the most likely scenario.
From a medium-term perspective, the focus should be on weekly bar closures at the $119,482 level. If the candle is closed far from it, the seller may seize the initiative.
Bitcoin is trading at $118,698 at press time.