According to CoinStats, buyers don’t seem to be giving up so easily.
Bitcoin/USD
The price of Bitcoin (BTC) has increased by 1.22% since yesterday.
On the hourly chart, the BTC rate is rising after breaking out of the local level of $61,246. If the daily bar closes above this level and without a long wick, the growth will likely continue into the weekend.
On a higher time frame, the price of the main cryptocurrency continues to rise after a false break of the $59,189 support. However, BTC may need more time to gather the strength to move further.
In this case, a more likely scenario is sideways trading in the $61,000-$63,000 zone.
On the weekly chart, BTC is in the middle of a wide channel, between support at $53,550 and resistance at $73,794. Volume continues to fall, meaning neither side is ready for a sharp move. In this case, traders will likely see continued sideways trading in the $60,000-$66,000 area.
At the time of publication, Bitcoin is trading at $61,813.