According to Coinmarketcap, the Bulls were unable to retain the initiative they acquired until the weekend.
BTC/USD
Bitcoin (BTC) prices have fallen 0.45% over the past 24 hours.
On the hourly chart, BTC rates approach $83,000 in formed support. Most of the daily ATRs have not yet been passed, so traders may witness further revisions to the $82,500 range by tomorrow.
In the larger time frame, there are no inverted signals yet. If the bar closes below current prices, it could potentially be tested in the $80,000 to $81,000 zone within the next few days.
From a medium-term perspective, weekly candles are about to close with long cores. This is a bearish signal. The main crypto rate is far from its critical level, so it should focus on the $80,000 interim area.
If a breakout occurs, the accumulated energy may be sufficient to move to the $78,000 mark.
Bitcoin is trading at $83,070 at press time.
