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According to CoinStats, sellers took control today.
BTC Chart by CoinStats
BTC/USD
The Bitcoin (BTC) rate has fallen by 4.58% since yesterday.
Image by TradingView
On the hourly chart, the price of the main cryptocurrency is closer to local resistance levels than support. If the rate returns to $99,000, we can expect it to test the psychological $100,000 mark soon.
Image by TradingView
On the daily time frame, the situation remains bullish as the price is close to the $99,800 level. If a breakout occurs, there is a high chance that BTC will rise above $100,000 again.
Image by TradingView
From a medium-term perspective, you should wait until the weekly bar closes. If that happens around $99,800, the bulls have an opportunity for continued growth.
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However, if a false breakout occurs, traders could witness a correction move towards the $92,000 area.
At the time of writing, Bitcoin is trading at $98,038.
