Sellers’ Power

Sellers are more powerful than buyers at the end of the week, according to CoinMarketCap.

BTC/USD

The price of Bitcoin (BTC) has dropped by 2.23% over the last day.

On the hourly chart, the rate of BTC made a false breakout of the local support of $83,358. If the daily bar closes far from that level, growth may continue to the $85,000 zone by tomorrow.

On the bigger time frame, the price of the main crypto is far from key levels. Thus, the volume is low, indicating neither side is ready to seize the initiative.

All in all, sideways trading in the zone of $83,000-$85,000 is the most likely scenario.

From the midterm perspective, the picture is similar. One should focus on the closest interim zone of $80,000. If a breakout happens, there might be enough energy for a drop to the $72,000-$76,000 area.

Bitcoin is trading at $84,028 at press time.