The market is mainly bearish, even though some coins are in the green zone, according to CoinStats.
BTC chart by CoinStatsBTC/USD
The price of Bitcoin (BTC) has gone up by 0.7% over the last day.
Image by TradingViewOn the hourly chart, the rate of BTC has bounced off the local resistance at $90,005. However, if the daily candle closes not far from that mark or above it, there is a chance to see an upward move to the $91,000 range tomorrow.
Image by TradingViewOn the longer time frame, the price of the main crypto is far from main levels, which means traders are unlikely to witness sharp moves soon.
In this case, sideways trading in the zone of $89,000-$91,000 is the most likely scenario until the end of the week.
Image by TradingViewA similar picture can be seen on the weekly chart. The volume has dropped, confirming the absence of bulls or bears’ energy. All in all, there are low chances of seeing increased volatility by the end of the month.
Bitcoin is trading at $90,107 at press time.
Source: https://u.today/bitcoin-btc-price-analysis-for-january-21
