Because they have been trading without the necessary liquidity, the cryptocurrency markets now are significantly less interesting. Additionally, the bears also appear to be inactive, which has forced the price of Bitcoin to remain inside a narrow range. As a result, the global market capitalization of cryptocurrencies has also been stuck at $1.06 trillion for a considerable amount of time. However, if market participants believe a significant change will occur during the upcoming weekend, they may just be making something up.
The BTC price soared beyond the resistance line during the most recent rally past $28,000, reaching not only the value reversal zone but also the following resistance levels. A daily divergence (RD) between quantity and value between two successive peaks was observed in the interim. The subsequent rejection, however, broke the main support at $25,800 and brought the price back to its initial resistance.
Despite the value decline, the Bitcoin price responded well to the value reversal zone and bounced back after a touch. As a result, the lack of volatility may prevent the value from acting now that it is anticipated to have a clever upsurge.
The BTC price is currently trading near the support zone, and the current rejection resulting from the interim rejection may force the price to reach lower support. As a result, there may soon be a significant upsurge that might raise the value above $26,200. However, the decreased trading volume and the impending death cross might prevent the value from rising beyond $26,000. In comparison, it might experience another bearish pullback, driving the token to the lower support of $25,200.
Therefore, it is anticipated that the market will remain unchanged throughout the weekend with just minimal price changes. There won’t be any specific price movement until the bearish clouds of death cross over the markets.