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The end of the week is mainly bearish, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 7% over the last 24 hours.
On the hourly chart, the price of BTC is far from the local support and resistance levels. In addition, most of the ATR has passed, which means traders are unlikely to witness sharp moves by tomorrow.
On the longer time frame, the picture is similar. In this case, one should focus on the daily bar's closure in terms of its low.
If it happens near $80,000 and with no long wick, the decline may lead to the test of the $76,000-$80,000 range soon.
From the midterm point of view, sellers are also more powerful than buyers. If a breakout of the nearest level of $76,600 happens, the accumulated energy might be enough for a more profound decline to the $70,000 mark.
Bitcoin is trading at $83,784 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team