How long is Pirate Bonanza Stakeaccumulation phase of Bitcoin (BTC) going to last? Advertisement Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A new week has started positive for most of the coins, according to CoinMarketCap.
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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.
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