BTC/USD: May One Expect Another Decline Before Moving to $10,000

On the weekly chart, bearish sentiments are increasing as Bitcoin (BTC) has been trading in a sideways trend for around 1 month. However, the current level is not the local bottom. As the trading volume is going down, the decrease might continue to the area of MA 50, equivalent to the $8,700 level. If bulls cannot hold this level, the long-term trend will switch to bearish.