According to Coinmarketcap, the market is under seller pressure over the weekend, with a few exceptions.
BTC/USD
The Bitcoin (BTC) ratio has increased by 0.61% since yesterday. Prices fell 2% last week.
On the hourly chart, BTC prices look bearish. If local resistance breakout occurs, we can expect the $82,000 to $82,500 zone to continue to decline by tomorrow.
In the larger time frame, there are no inverted signals so far. The volume continues to drop. That means the Bulls are not ready to grab the initiative yet.
In this case, traders may witness another drop in the $81,000-$82,000 range.
From a medium-term perspective, BTC prices have resulted in a false breakout of $87,470. If weekly candles fall below $80,000, they could soon test the $78,000 area.
Bitcoin is trading at $83,030 at press time.
