According to CoinStats, the correction continues in the cryptocurrency market.
BTC/USD
The Bitcoin (BTC) rate has fallen by 8% in the last 24 hours.
On the hourly chart, BTC price has made a false breakout of the local support level of $92,502. If the daily bar closes away from that level, there is a chance to see a bounce to the $96,000 mark.
On the longer time frame, traders should focus on the nearest support at $92,092. If the candle close occurs near it, a breakout can be expected, followed by a new correction to the $90,000 range.
From a medium-term point of view, the picture is similar.
If the weekly bar closes around $92,000, the decline may lead to the test of the $85,000-90,000 area at the end of the month.
Bitcoin is trading at $96,688 at the time of this publication.
