The cryptocurrency market is experiencing new local lows, with the price of Bitcoin dropping by 5.11% over the past 24 hours. While there is a temporary upward movement, there are no reversal signals on the bigger time frame. However, if the daily bar closes with a long wick, traders may expect a bounce back to the $86,000 zone over the weekend. From a midterm perspective, the situation remains bearish and if the weekly candle closes around current prices, the fall could continue to the important zone of $70,000 soon. At the time of writing, Bitcoin is trading at $81,664.



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