BTC over the weekend: short position between critical levels

The cryptocurrency market shows complex behavior on the eve of the weekend, signaling possible turbulence. On the hourly timeframe, Bitcoin has returned to a stable downtrend, but this dynamic contrasts with larger timeframes, where the asset still maintains a positive momentum. This contradiction creates uncertainty ahead of the weekend, when liquidity often decreases and movements become more unpredictable.

The current BTC price is $67,460, located in a critical zone between support and resistance. In recent hours, there was a pullback from levels of $67,521 and $67,240 on the hourly chart, with a potential next target at $66,960. This correction fits into a broader pattern formed after Thursday.

Technical formations and trends on different timeframes

A key observation is that on 2- and 2.5-hour charts, Bitcoin remains in an uptrend. A break of these lines would serve as a decisive signal to strengthen the bearish position. It’s important to note that the rally starting Thursday perfectly aligns with a bearish wedge pattern that is beginning to play out. The full target level of this wedge is around $65,245 — a level that will become a critical reference point if intermediate resistances are broken.

At the same time, on the 3-hour timeframe, there is no support yet for a full reversal of the downtrend, although the level of $69,187 acts as a potential turning point. On the 4-hour chart, the situation favors the bears — the downtrend has already formed, and the price approached the critical level of $68,643, where there was an opportunity to add to short positions.

Critical support levels before the weekend

Horizontal analysis indicates that support at $67,134 is extremely important. A break below this level could trigger an impulsive move downward to the next significant support at $65,641. However, the most serious liquidity zones, according to specialized indicators, are significantly lower — in the range of $62,459–$62,653. This area represents a long-term barrier and a strong magnet for the price in case of a prolonged decline.

Liquidity and price movement in the context of the weekend

Volatility shows a clear downward trend, with energy accumulating in a large triangle formed 20 days ago. Such concentration, where fluctuations tighten, usually precedes a significant breakout in one direction. The weekend is precisely the period when this breakout could occur unpredictably, as the majority of market participants are in a cautious mode.

An important reference point is that futures on the Chicago Mercantile Exchange closed on Friday at $67,925. This level acts as a magnet that could attract the price when full trading resumes overnight. Bears should consider that such technical levels often become turning points during transitional trading sessions.

Analysis of the current position and weekend scenarios

The current open position is down 13% at an entry level of $67,030. This highlights the importance of risk management and pre-planning. In the context of the weekend, when the market is usually less predictable, key signals remain mechanical: a break of one of the key lines on multi-hour timeframes.

Currently, the technical balance favors the bears — the uptrends on 2- and 2.5-hour timeframes have not yet been broken, but the hourly downtrend has already been established. If support at $67,134 is broken, the likelihood of movement toward the targets of the bearish wedge is very high. The weekend could be a period when accumulated volatility bursts through one of these critical levels, setting a new impulse for the upcoming week.