The market remains under sellers’ pressure at the end of the week, however, there are some exceptions, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by 0.61% since yesterday. Over the last week, the price has fallen by 2%.
On the hourly chart, the price of BTC is looking bearish. If a breakout of the local resistance happens, one can expect an ongoing decline to the $82,000-$82,500 zone by tomorrow.
On the bigger time frame, there are no reversal signals so far. The volume keeps falling, which means bulls are not ready yet to seize the initiative.
Related
In this case, traders might witness one more drop to the $81,000-$82,000 range.
From the midterm point of view, the price of BTC has made a false breakout of the $87,470 level. If the weekly candle closes below $80,000, there is a chance of a test of the $78,000 area shortly.
Bitcoin is trading at $83,030 at press time.
