Bitcoin continues to be a hot topic in the world of cryptocurrency, with analysts and traders closely monitoring its price fluctuations. This Bitcoin price prediction focuses on analyzing key technical indicators and market trends to assess the potential support level of the upward channel near $26,800.
The approval of the world's first comprehensive framework of regulations for crypto-assets by EU member states is putting pressure on other countries to follow suit. Despite losses in BTC/USD prices, institutional adoption among crypto-related startups is helping to support Bitcoin's price, with Marathon holding around $35.5 million worth of preferred stocks in Auradine. Currently trading at $27,114, Bitcoin has formed a descending channel on the two-hour chart with support near $26,850, and the $26,750 level is critical for its bullish trend.
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