At the start of this week, neither buyers nor sellers have taken control of the market, as reported by CoinStats.
The value of Bitcoin (BTC) has decreased slightly by 0.19% compared to yesterday’s figures.
Currently, BTC is approaching a local resistance level around $88,389. Should the daily candlestick close above this threshold, it could signal a continuation of upward momentum toward the $89,000 range in the near future.
Looking at a broader timeframe, Bitcoin’s price is rebounding after bouncing off support near $86,363.
If the daily bar closes significantly above that support level, traders might expect further gains pushing BTC toward approximately $90,000 during this week.
From a medium-term perspective, market conditions remain uncertain since Bitcoin’s price is distant from critical support and resistance zones. This uncertainty is reflected in reduced trading volume indicating weak participation from both buyers and sellers. Consequently, sideways movement within a range between $86,000 and $90,000 appears to be the most probable outcome through month-end.
At present moment of writing this report, Bitcoin trades at about $88,184.