The cryptocurrency market is experiencing a mostly positive trend, with Bitcoin's price increasing by 1.79% in the last 24 hours. On the hourly chart, BTC has rebounded from the local support of $97,367, and if the daily bar closes above this mark, there is a possibility of testing the resistance of $99,414 tomorrow. Traders should be aware of the recently formed resistance of $99,100 on the bigger time frame, as a false breakout could lead to a correction towards the $94,000 zone. As of now, there are no reversal signals from a midterm perspective, and attention should be given to the weekly candle closure. If it closes without a long wick, there is potential for continued growth towards the crucial area of $100,000. At the time of writing, Bitcoin is trading at $98,333.



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