Most of the cryptocurrencies are in the red zone at the end of the week, according to CoinMarketCap.CoinMarketCap”>

BTCUSD

The rate of Bitcoin BTCUSD has remained the same since yesterday and over the past week.TradingView”>

On the hourly chart, the price of the main crypto is approaching the local support of $117,888. If a breakout happens, the accumulated energy might be enough for a test of the $117,500 range soon.TradingView”>

On the bigger time frame, neither side is dominating as the rate of BTC is far from the key levels.

In this case, ongoing sideways trading in the area of $116,000-$119,000 is the more likely scenario over the next few days.TradingView”>

From the midterm point of view, traders should pay attention to the weekly candle closure in terms of the $119,482 level. If it happens far from that mark, there is a possibility of a drop to the $112,000 mark.

Bitcoin is trading at $118,184 at press time.