According to CoinStats, buyers are taking charge as the weekend begins.
BTC/USD
Over the past 24 hours, the price of Bitcoin (BTC) has increased by 3.42%.
On the hourly chart, Bitcoin’s price is climbing following a breakout at the local resistance level of $83,974.
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If the daily bar closes significantly away from this level, the upward trend may soon extend towards $86,000.
In the larger time frame, buyers remain dominant over sellers. If the circumstances remain unchanged by the day’s end, a breakout past the level may be expected, testing the $87,000-$88,000 region.
Looking at the weekly chart, buyers are taking the lead. Traders should pay particular attention to the candle’s closure around the $88,772 mark; if it closes above this, the midterm upward trend might continue toward the $92,000-$96,000 range.
Bitcoin is currently trading at $84,636.
