CoinStats reports that the market has not reached the overbought zone yet. The price of Bitcoin has increased by 3.86% since yesterday and is currently above the local resistance of $90,629 on the hourly chart. If the daily bar closes above this mark, further growth to the $92,000-$93,000 range is expected. However, on the bigger time frame, Bitcoin is trading within yesterday's bar, indicating a lack of dominant direction. Volume has also decreased, confirming the absence of bullish energy. Sideways trading between $89,000-$92,000 is considered the more likely scenario. Traders are watching the weekly candle's closure, as a peak close could result in a rise to the $100,000 zone. At the time of writing, Bitcoin is trading at $90,561.



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