The majority of the coins keep setting new local peaks, according to CoinStats.CoinStats”>

BTCUSD

The price of Bitcoin BTCUSD has gone up by 0.78% over the last 24 hours.TradingView”>

On the hourly chart, the rate of BTC is near the local support of $108,507.

However, if the daily bar closes far from that mark, there is a possibility of witnessing a test of the $110,000 range by tomorrow.TradingView”>

On the longer time frame, bulls have failed to keep rising after yesterday’s bullish closure. Until the rate is below the $110,461 resistance, traders may witness a correction to the $108,000-$109,000 range.TradingView”>

From the midterm point of view, the price of the main coin is on its way to the all-time high. However, if the weekly bar closes with a long wick, bears may come back to the game, which can lead to a drop to the $107,000 mark.

Bitcoin is trading at $109,150 at press time.