Happy Saturday all! We're seeing a little bit of a pullback today, but overall, I think it could be a start to additional price sliding downwards.
Bulls couldn't break the $8,084 price resistance and close above this level to test $8,200, so it's looking like bulls are out of gas.
The previous three days of bull action is likely forming a bear flag without bull continuation. Daily bull volume declined (after weekly bull volume has declined).
Google search interest for Bitcoin has declined as well, which historically is always tied to price movement.
The longer term good news is that the bulls still have a lot of wiggle room on the weekly chart to form a higher low and maintain a bullish weekly chart.
No major bull signs in the short term, so continue to be patient! Have a great weekend!
