Bitcoin has been consolidating above $27,000 during today's trading session, but has slid lower and broken below that level. Technical analysis shows that Bitcoin is trading in a declining channel and may see further losses in the coming days. The Relative Strength Index (RSI) is below the 50-mark, indicating bearishness in the market, and the Moving Average Convergence Divergence (MACD) shows that the negative trend will likely continue. The bears have extended their grip on BTC and the technical indicators suggest further losses if BTC fails to break above $27,000 in the coming days, with the next support levels near $26,430 and $26,000.
All Comments