At the close of the week, the market continues to face pressure from sellers; however, there are notable exceptions highlighted by CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.61% since yesterday, although it has seen a decline of 2% over the past week.
On the hourly chart, BTC appears to be on a bearish trend. Should the local resistance break, a further decline to the $82,000-$82,500 range may be anticipated by tomorrow.
Looking at the larger time frames, no reversal signals have yet appeared. A consistent decrease in volume indicates that buyers are not yet prepared to take control.
Related
This trend suggests that traders may see one more dip into the $81,000-$82,000 region.
From a mid-term perspective, BTC has witnessed a false breakout at the $87,470 mark. If the weekly candle closes beneath $80,000, there is a possibility of testing the $78,000 level soon.
As of this update, Bitcoin is trading at $83,030.
