The crypto market remains bullish, however, some cryptocurrencies are back to the red zone, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone down by 0.76% since yesterday.
On the hourly chart, the rate of BTC has broken the support of $107,500. However, most of the daily ATR has been passed. In this case, there are low chances of seeing sharp moves by the end of the day.
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If bulls cannot seize the initiative, the correction is likely to continue to the $107,000 mark tomorrow.
On the longer time frame, the price of the main crypto has bounced off the resistance of $108,833. If today's bar closes below $107,200, the accumulated energy might be enough for a test of the $106,000 area soon.
From the midterm point of view, traders should pay attention to the previous bar's peak. If the weekly candle closes above the $109,000 mark, there is a chance to see a test of the $112,000 resistance.
Bitcoin is trading at $107,332 at press time.
