Today, the cryptocurrency market shows a predominance of green values, and Bitcoin's rate has demonstrated moderate growth.
Bitcoin Rate
According to data, Bitcoin (BTC) has increased by 0.11% over the past day. Currently, it is trading at $109,409.
Current Trends and Levels
On the hourly chart, there was a false breakout of the local resistance at $109,550. If the daily candle closes away from this mark, it may lead to sellers' action and a swift decline towards the $109,000 zone. On a longer time frame, Bitcoin's rate approaches the resistance at $110,400. If this level breaks, a test of the $112,000 mark is possible.
Market Prospects
From a medium-term trading perspective, traders should pay attention to the closure of the weekly candle near the $112,000 level. If it occurs around this mark, there is a high likelihood of witnessing a new all-time high for Bitcoin.
Thus, Bitcoin remains at the center of attention in the cryptocurrency market with growth and a potential breakout of key resistance levels.
