As of today, CoinStats indicates that there are no signs of a reversal in the market.
BTC/USD
The value of Bitcoin (BTC) has experienced an increase of 0.62% compared to yesterday’s figures.
When examining the hourly chart, it appears that BTC is currently in a neutral position, showing neither bullish nor bearish tendencies as it remains distant from key support and resistance levels. Consequently, significant price movements are not anticipated before tomorrow.
On a broader time frame analysis, Bitcoin’s price is contained within the trading range established yesterday. This suggests that neither buyers nor sellers possess sufficient momentum for any substantial movement at this time.
This leads to the expectation of sideways trading within a tight range between $115,500 and $116,500 until week’s end.
From a midterm perspective, the situation remains consistent. Should this week’s bar close around current values, it may take buyers additional time to gather enough strength for any further advances.
The current trading price for Bitcoin stands at $115,767 as reported at this moment.