BTC/USD 4H Chart: Decline likely to continue

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate
The Bitcoin cryptocurrency has declined by 6.83% against the US Dollar since June 24. The currency pair tested the $8900 mark during Thursday's trading session.

Technical indicators flash selling signals on both the smaller and the daily time-frame charts. Therefore, the BTC/USD exchange rate could continue to edge lower during next week's trading sessions. The possible target for bearish traders will be at the $8000 level.

However, bears need to surpass the support level at the 8900 area before reaching the given target.

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