The market opened the week predominantly in the red, as reported by CoinStats.
Bitcoin (BTC) has experienced a slight decline of 0.32% compared to its value yesterday.
Examining the hourly chart reveals that BTC briefly dipped below the local support level at $90,244, but this breakout proved to be false. Should the daily candle close significantly above this threshold, a rebound toward approximately $92,000 could be anticipated.
Looking at a broader timeframe, neither buyers nor sellers hold clear control since Bitcoin’s price remains distant from critical levels. Trading volume is subdued, suggesting limited potential for sharp price movements either upward or downward.
Given these conditions, sideways trading within the range of $89,000 to $92,000 appears most probable in the near term.
From a medium-term perspective, similar dynamics persist: with no decisive momentum from bulls or bears, heightened volatility seems unlikely in upcoming sessions.
At present moment of writing, Bitcoin is valued around $90,&800.