Since yesterday, the price of BTC (BTC) has pumped 1%.

On the hourly chart, the price of BTC fell after setting a local resistance at $98,776. If the bulls cannot take the initiative in the short term, then we can expect a test of the support level tomorrow.

On a larger time frame, traders should pay attention to the recent $99,514 level. If broken, there is a chance to see the price surpass the $100,000 area and above.

From a medium-term perspective, the bears failed to maintain the downward trend after the previous bearish bar closed. However, it is still too early to consider a quick reversal as there is not enough energy accumulated yet.

In this case, it is more likely to trade sideways in the range of $94,000 to $100,000.