According to Coinstats, the market is neutral in the middle of the week.
BTC/USD
Bitcoin (BTC) prices have risen 0.79% since yesterday.
On the hourly chart, it is possible that the BTC rate was set to a local resistance of $107,880. At this point, from that level of perspective, we need to pay attention to the daily closure of bars.
If that happens around it, traders may expect a breakout, followed by a move to the $109,000 zone.
In the long time slot, the Bulls are trying to grab the initiative after yesterday’s bearish bar. If the candle exceeds $107,600 and there is no long wick, an upward movement could lead to a test of resistance by the end of the weekend.
From a medium-term perspective, traders should focus on weekly bar closures. If that occurs at close to $110,000, growth could last up to the $112,000 mark.
Bitcoin is trading at $107,384 at press time.