The market is taking a breather, darling, as CoinMarketCap reports a neutral stance on the last day of the week.
BTC/USD
Oh, dear! The price of Bitcoin (BTC) has taken a tumble, dropping by 0.49% over the last day. How positively scandalous!
On the hourly chart, the rate of BTC is descending after breaking the local support of $96,170. If the sellers continue to exert pressure and the bar closes far from that mark, there’s a chance of a test of the $95,500 range soon. How thrilling!
On the larger time frame, the bulls have failed to maintain the rise after yesterday’s bullish closure. If the candle closes below the previous bar low, traders may witness an ongoing correction to the support of $94,091 the upcoming week. How utterly fascinating!
From the midterm point of view, neither bulls nor bears are dominating. The volume keeps going down, which means any sharp moves are unlikely to happen soon. How terribly dull!
All in all, sideways trading in the range of $94,000-$100,000 is the more likely scenario. How positively predictable!
Bitcoin is trading at $96,037 at press time. How utterly thrilling!
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2025-02-23 16:03