Currently, all top cryptocurrencies from the top ten list are showing price increases, including Bitcoin. Let's examine the current trends and forecasts for the crypto market.
Bitcoin Price Analysis
The price of Bitcoin (BTC) has risen by 1.45% in the last 24 hours. On the hourly chart, BTC is positioned in the middle of the local channel.
Current Market Situation
On a longer time frame, the main asset's price has not bounced back significantly after a false breakout of the support at $109,283. If the situation remains unchanged, there is a chance for an ongoing correction to the $106,000-$108,000 zone.
Price Movement Forecasts
From a mid-term perspective, attention should be paid to the weekly candle's closure in relation to the previous candle's low. If a breakout occurs, a decline is likely to continue towards the $105,000 mark.
Bitcoin is currently trading at $111,130. The market shows positive results for top assets, yet investors should monitor ongoing trends.
