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Bears are dominating on the last day of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 1.67% since yesterday. Over the last week, the price has fallen by 3.17%.
On the hourly chart, the price of BTC keeps looking bearish. The rate is on the way to the support of $101,894. If a breakout happens, the accumulated energy might be enough for a move to the $101,000 zone.
On the bigger time frame, the picture is also bearish. If the daily bar closes around the current prices or below, one can expect a test of the vital $100,000 area by the end of the month.
From the midterm point of view, traders should focus on the candle closure in terms of the $100,764 level.
If a breakout happens and the bar closes below it with no long wick, there is a chance to witness an ongoing decline to the $99,000 range.
Bitcoin is trading at $101,000 at press time.
Vladislav Sopov
U.Today Editorial Team