The bears remain more powerful than the bulls on the last day of the week, according to CoinMarketCap.
BTC/USD
The Bitcoin (BTC) rate has increased by 0.42% since yesterday. Over the last week, the price has risen by 2.89%.
On the hourly chart, BTC price is trading sideways, meaning that neither buyers nor sellers dominate. Volume has dropped, confirming the absence of bullish and bearish energy.
All in all, consolidation in the narrow range of $101,600-$102,600 is the most likely scenario for tomorrow.
On the broader time frame, the price of the leading cryptocurrency has made a false breakout of yesterday’s bar peak of $102,638. If the daily close occurs far from that mark, a local correction to the $101,000 zone can be expected.
From the medium-term point of view, the BTC price is far from the main levels. In this case, traders should focus on the close of the candle in terms of its current peak. If this happens around current prices, there is a chance that the $104,630 level will be tested next week.
Bitcoin is trading at $102,019 at the time of this publication.
