Bitcoin (BTC) is at risk of breaking down below the $27,000 support level, with traders anticipating new lows. BTC/USD is currently trading near $26,800, having crossed the $27,000 mark multiple times the day before. Traders are predicting a potential target of $26,400, with some anticipating an "expansion candle" if the breakdown continues.
However, liquidity on both sides of the Bitcoin price is thin, with whales having to break up their market orders into smaller sizes to minimize slippage. Despite this, the current trading range, featuring as a key support and resistance zone from 2021 onward, shows no signs of relinquishing control.
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