The cryptocurrency market is neither bullish nor bearish as some coins are in the green zone and others remain in the red.
Bitcoin (BTC) price is up slightly from yesterday. However, last week’s price he fell 2.56%.
On the local timeframe, Bitcoin (BTC) continues yesterday’s flat trading, which is confirmed by the drop in volume. If the bulls want to take the lead, the rate should correct back to $16,800 and beyond.
On the larger charts, Bitcoin (BTC) may have found a local bottom at $16,572. At the same time, it is unlikely that we will see a rapid reversal, as not enough energy has been accumulated yet.
Respectively, the more likely scenario is to trade in the $16,600-$16,800 range over the next few days.
However, the decline could continue in the weekly time frame as the bulls failed to correct the price above $18,000. If the candle closes without a long wick, Bitcoin (BTC) price could test the $16,000 zone by the end of the week. It shows that you don’t have it.
Bitcoin is trading at $16,714 at the time of writing.