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Bitcoin Price Prediction for Weekend: Slow Sideways Movement with Bearish Outlook

BITCOIN: Can BTC BREAK above the $29,000?
BITCOIN: Can BTC BREAK above the $29,000?

Bitcoin experienced a move to the downside on Friday, falling deeper than expected but later recovering. The price is expected to trade within the range of $27,700 to $28,266 over the weekend, according to a video analysis by Nick.

The video mentions a bearish structure on the daily chart, targeting a range of $22,477 to $23,787 unless Bitcoin breaks above $28,588. Technical indicators like death crosses and golden crosses are discussed but are seen as lagging indicators rather than predictive.

Low trading volumes are noted, indicating reduced market activity compared to previous bullish periods. The weekly chart suggests continued resistance at $28,600 to $32,289, potentially leading to a deeper correction.

Overall, the video analysis suggests a bearish outlook for Bitcoin unless it breaks above the resistance level of $28,588. However, it is important to note that this is just one analysis, and there are many other factors that could affect Bitcoin’s price in the coming days and weeks.

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