Recently, many cryptocurrencies, including Bitcoin, have shown a decline in prices. This article examines the current state of Bitcoin and possible trends in the near future.
General Market Overview
At present, most of the top ten cryptocurrencies have returned to the red zone, indicating a general downward trend in the market.
Current Bitcoin Indicators
The rate of Bitcoin (BTC) has declined by 0.24% since yesterday and is currently priced at $117,503. On the hourly chart, the price is in the middle of the local channel, making sharp moves unlikely until tomorrow.
Outlook and Expected Movements
From a midterm perspective, there are currently no reversal signals. If the current candle closes without a long wick, an upward move to a new all-time high next week is likely.
In conclusion, consolidation around current Bitcoin prices is expected in the coming days, with the possibility of further growth in the midterm.
