According to CoinMarketCap, the bulls are still more powerful than the bears today.
BTC/USD
Bitcoin (BTC) has been an exception to this rule, falling 0.44% in the past 24 hours.
On the hourly chart, the BTC rate is heading towards the local support at $93,121. If the seller pressure continues, we can expect a breakout of the level, followed by further decline to the $92,500-$93,000 range.
Looking at the longer time frame, the price of the major cryptocurrency accidentally broke through the formed resistance level at $94,652.
If the daily closes far from that mark, the $92,000 to $93,000 area will likely be tested this week.
From a medium-term perspective, traders should focus on the nearest level at $94,652. If the bulls can take control, the pent-up energy could be enough to explode into the $100,000 region.
At the time of writing, Bitcoin is trading at $93,724.
