The weekend has kicked off with a strong performance from bulls, although there are notable exceptions as reported by CoinMarketCap.
BTC/USD
Bitcoin (BTC) has experienced a slight increase of 0.25% in the past 24 hours.
Looking at the hourly chart, BTC is currently fluctuating within a local range defined by support at $87,791 and resistance at $88,522. With neither buyers nor sellers taking control, it seems likely that trading will remain sideways around this price until tomorrow.
On a broader time frame, Bitcoin’s price is significantly distanced from key levels. The trading volume remains low, indicating that neither party has built sufficient momentum to take charge of the market.
Bulls might only consider an upward trend if they manage to break through the nearby level of $90,000.
From a mid-term perspective, the scenario appears similar. Traders are unlikely to see any significant volatility until month-end approaches.
As of now, Bitcoin is priced at $88,222.