Most of the coins are trading in the green zone, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) is almost unchanged since yesterday.
On an hour-by-hour basis, the cost of Bitcoin hovers close to its supportive price point of approximately $98,557. Should it surpass this level, there’s a good chance we’ll see a dip into the $98,000 region shortly.
On the longer time frame, bulls have failed to keep yesterday’s upward move going.
If the current candle ends at a significant distance from the $100,000 region, it could give bulls an advantage that might trigger a quick decline towards the $97,000 area in the near future.
Looking from a midterm perspective, it’s crucial to focus on the weekly candle closing near or above the significant level of $100,000. If this occurs, the potential accumulated momentum could lead to a possible push towards the resistance at $105,374.
Bitcoin is trading at $99,249 at press time.
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2025-01-16 17:57