The cryptocurrency market is still showing activity, supporting price growth on many altcoins and Bitcoin. Let's examine current changes and forecasts.
Bitcoin Price Changes
In the last 24 hours, the price of Bitcoin (BTC) has increased by 0.46%, coinciding with the overall upward trends in the cryptocurrency industry. However, the hourly chart indicates a decline in Bitcoin price following the breakdown of local support at $108,696.
Current Market Trends
If the current market condition does not change by the end of the day, a correction is likely to continue to the $108,000 mark by tomorrow. On longer time frames, it is evident that bulls have failed to maintain growth after the closure of yesterday's bullish candle.
Future Prospects
From a mid-term perspective, bulls remain stronger than bears, as the BTC rate is closer to resistance than to support. However, if sellers take the initiative and the candle closes near $105,000, a correction to the $100,000 area could be expected.
Currently, Bitcoin is trading at $108,380, showing high volatility and accompanying growth in interest towards cryptocurrencies.
