Today, the bulls are making a comeback in the market, as reported by CoinStats.
The value of Bitcoin (BTC) has experienced a slight increase of 0.14% compared to the previous day.
Examining the hourly chart reveals that BTC’s rate remains optimistic, hovering close to its local resistance at $113,229. Should it break through this level, an upward trajectory towards $114,000 is anticipated.
On a broader scale, Bitcoin’s price attempted but failed to break below yesterday’s low bar. If today’s bar closes significantly above this point, it could signal renewed bullish activity and potentially test the $114,000-$116,000 range soon.
The weekly chart presents a less promising outlook. If this week’s candle finishes near or below current levels, there might be an opportunity for testing around $108,000 before month’s end.
Currently trading at $112,934, Bitcoin shows modest gains at press time.