At the beginning of the weekend, most cryptocurrencies show a decline in prices, especially Bitcoin, which has fallen by 0.11% over the last 24 hours.
Changes in Bitcoin Prices
The price of Bitcoin (BTC) has decreased by 0.11% over the last 24 hours, currently standing at $105,056.
Technical Analysis of BTC
On the hourly chart, BTC is near the local support level of $104,834. If no bounce occurs by the end of the day, it may lead to a test of the $104,000 area. On larger time frames, bulls have failed to maintain the rise after the bullish bar closure.
Bitcoin's Outlook for the Coming Days
From a midterm perspective, BTC is positioned in the middle of a wide channel between support at $100,764 and resistance at $112,000. Trading volume is decreasing, indicating that sideways trading around current prices is the more likely scenario.
Given the current market situation, Bitcoin faces potential fluctuations, but sharp price changes are not expected in the coming days.
