Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Bulls could not hold the gained initiative until the end of the week, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has declined by 0.54% since yesterday. Over the last week, the price has fallen by 5.84%.

On the hourly chart, the price of BTC is near the local resistance level of $97,248. If a breakout happens, the growth may continue to the $98,000 area tomorrow.

On the bigger time frame, neither side is dominating. The rate of the main crypto is far from the key levels, which means any sharp moves are unlikely to happen shortly.

From the midterm point of view, one should pay attention to the weekly bar closure in terms of the $97,092 level. 

If the candle closes far from it, traders may witness a local bounce back to the $100,000 area. Such a scenario is relevant until the end of the month.

Bitcoin is trading at $96,396 at press time.