The market remains stable as the week concludes, based on data from CoinStats.
Bitcoin (BTC) has experienced a slight decline of 0.44% over the past day.
Even with today’s decrease, BTC’s price shows potential for an upward trend on the hourly chart. Should it surpass the immediate resistance level of $112,213, further gains towards $113,000 are anticipated.
On a broader scale, Bitcoin has established local support at $109,711. However, buyers may require additional time to gather momentum for significant movement.
This suggests that trading within a confined range between $111,000 and $114,000 is more probable in the near term.
Looking at the midterm perspective reveals a bearish outlook. If this week’s candle closes below last week’s low of $111,597, there is a strong chance of continuing correction down to between $100,000 and $105,000
Currently, Bitcoin is valued at 1&#;11,&nbs;p;&n;bsp7&;73 .