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The weekend began with continued pressure from the bears as rates for most coins continue to fall.
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BTC/USD
The price of Bitcoin (BTC) has barely moved since yesterday.
Picture by TradingView
On the local chart, the Bitcoin (BTC) rate is bearish as the price bounced off the resistance at $26,923. If the buyers cannot seize the initiative by the end of the day, the decline could continue to the $26,800 area tomorrow.
Picture by TradingView
On the daily time frame, the situation remains the same as neither buyers nor sellers are dominating at the moment. The drop in volume also confirms this fact. In this case, ongoing sideways trading in the $26,500-$27,500 area is the most likely scenario for next week.
Picture by TradingView
In the medium term, the bears maintain their pressure as the rate has settled below the $27,000 mark. As there are no reversal signals yet, we can expect a continued correction in the $25,000-$25,500 range.
Bitcoin is trading at $26,903 at press time.
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