All of the top 10 coins remain under bears’ pressure today, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has dropped by 2.17% since yesterday.
On the hourly chart, the rate of BTC has made a false breakout of the local support of $108,777. However, if the bounce back does not happen, traders may expect a dump to the $108,000 zone by tomorrow.
On the longer time frame, there are no reversal signals yet.
If the daily bar closes below yesterday’s candle’s low, traders may witness a test of the $107,389 level by the end of the week.
From the midterm point of view, the rate of the main coin is going down after a false breakout of the $117,622 resistance. If the price of BTC closes around the current levels or below, the accumulated energy might be enough for a move to the $104,000 range.
Bitcoin is trading at $109,295 at press time.