According to CoinMarketCap, the weekend started with a market decline.
BTC/USD
Bitcoin (BTC) rate has fallen by 2.45% in the past 24 hours.
On the hourly chart, BTC price accidentally broke through the local support at $90,124. However, if a pullback does not occur and the daily chart closes around that mark, we would expect a sharp drop into sub-$90,000 territory.
On larger time frames, there are no reversal signals for now. The rate of the main cryptocurrencies is far from the main levels, so we should keep an eye on the interim zone of $90,000.
If a breakout occurs, the accumulated energy could be enough for an even bigger drop to the $88,000 range.
From a medium-term perspective, traders should focus on the closing price of the candlestick at the $94,172 level. If it moves further away, the correction could continue to the $85,000 level.
At the time of writing, Bitcoin is trading at $90,179.
