How longgbet cassinoaccumulation phase of Bitcoin (BTC) going to last? Advertisement

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A new week has started positive for most of the coins, according to CoinMarketCap.

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BTC/USD

The price of Bitcoin (BTC) has risen by 0.65% over the last 24 hours.

On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $84,224 and the resistance of $85,496. 

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If the daily bar closes around the upper level, there is a chance to see a test of the $86,000 mark by tomorrow.

On the bigger time frame, sideways trading remains the most likely scenario. However, if the candle closes above the interim level of $86,000, the accumulated energy might be enough for a move to the resistance of $88,772.

From the midterm point of view, it is too early to make any distant predictions. In this case, traders should pay attention to the nearest level of $88,772. If it breaks out, growth may continue to $90,000. Such a scenario is relevant by the end of the month.

Bitcoin is trading at $84,860 at press time.