Bitcoin (BTC), despite continuing to rise, shows signs of slowing down this Friday (15), approaching the support level of US$ 90 thousand.
With a daily appreciation of 1.6% in 24 hours, BTC is slowly moving away from its all-time high of US$93,477.
With that in mind, can we expect a calm weekend or surprises?
Bitcoin in consolidation
Bitcoin, which rose approximately 40% between November 5 and 13, has been trading sideways since then, between the $85,500 and $90,500 levels.
Therefore, it is possible that the asset's price will enter a prolonged consolidation, something that is supported by its technical indicators on the 4-hour chart.
The 9-period exponential moving average (EMA) (blue), for example, is very close to the 21-period EMA (orange), which shows that there is little distinction between short-term and medium-term trends. Furthermore, the Relative Strength Index (RSI) is approaching the neutral line of 50.
Bitcoin (BTC) Chart on TradingView
It is worth noting that trading volumes for cryptocurrencies typically decrease on weekends. If this happens now, BTC may continue to trade within the price range mentioned above.
However, despite the technical indicators corroborating this scenario, they are still bullish. Therefore, another jump towards an ATH cannot be ruled out.
In this sense, Bitcoin would need to appreciate 3.7% to surpass its current all-time high of US$93,477.
The article Bitcoin (BTC) Forecast: What to Expect for the Weekend? was first seen on BeInCrypto Brazil.
