The cryptocurrency market ended the week on a neutral note, as reported by CoinStats.
Bitcoin (BTC) experienced a slight increase of 0.11% in its price over the last 24 hours.
Examining the hourly chart reveals that BTC briefly broke above the local resistance level at $88,500; however, this breakout proved to be false. Should the daily candle close significantly below this threshold, a pullback toward approximately $86,000 is anticipated soon.
Looking at longer time frames, it remains premature to make definitive long-term forecasts despite a potentially bullish daily close. Trading volumes are currently low, indicating neither buyers nor sellers hold substantial control.
Overall, Bitcoin is expected to consolidate within a range between $87,000 and $90,000 in the near term.
From a medium-term perspective, conditions remain largely unchanged. With no clear dominance from either bulls or bears, sideways movement between $80,000 and $90,000 is likely through month-end.
At present moment of writing this report, Bitcoin trades around $88,260.