The recent market correction was brief, as indicated by CoinStats, and the market has returned to a positive trend.
BTC/USD
Bitcoin’s (BTC) value has increased by 3% compared to yesterday.
The hourly chart shows that BTC is on an upward trajectory following a breakout from local resistance. The trading volume has surged, indicating that bullish sentiment is currently driving the market.
If current trends persist until tomorrow, we could see prices rise towards the $92,000 level.
Looking at longer time frames, Bitcoin’s price remains distant from critical levels. With neither bulls nor bears taking control decisively, it appears that sideways trading within the $89,000-$92,000 range is likely for this week.
From a midterm perspective, the situation mirrors this analysis. The declining volume suggests traders should not expect significant price fluctuations in the near future.
As of now, Bitcoin is priced at $89,912.