FX.co ★ teagan.orn | #Bitcoin chart analysis

#Bitcoin / Bitcoin / BTCUSD. Good afternoon. Bitcoin is currently forming a weekly candle shaded dark, and there is a possibility of continuing the move to the downside during the upcoming weekend. But it's still too early to talk about opening short positions. On the hourly chart the indicators don't show anything specific, they point in different directions, and the pair is hovering around the Bollinger middle band. Moreover, the channel itself has begun to narrow significantly, so I expect to see a breakout in the near future. I won't try to guess the direction, but for now I'm eyeing a probable short-term move to the downside, approximate target 80850-900. But to open short positions here it is advisable to wait for more complete technical confirmation. On the 4-hour chart the indicators still point to further decline, but a new signal here is still not activated. But overall, a scenario with a move to the downside in the medium term is already becoming apparent. However, the pair is now heading to test the Bollinger middle band from below, so depending on a breakout or rejection there it will show the further bias more precisely.