#Bitcoin Trading Volumes Dropping, But Prices Hold above $26.6k
Past Performance of Bitcoin
Bitcoin prices are mostly stable when writing, looking at the general performance in the daily chart. Even though the coin has been under pressure in recent days, the failure of bears to push harder on March 28 means buyers have a chance. Still, how prices react between $26.6k and $29k would shape the coin's short to medium term trend.
#Bitcoin Technical Analysis
The path of least resistance, from the top-down preview, is northwards. From the daily chart, BTC has support at last week's lows at around $26.6k. Resistance is at $29k but $28k is also a vital reaction point marking March 27 highs. As it is, trading volumes are light, impacting momentum. Until there are sharp movements above or below $28k or $26.6k, traders can watch from the sidelines until a trend is defined.
What to Expect From #BTC?
Buyers are upbeat, looking at the chart, but the upside momentum is comparatively low. Though there are lower lows relative to the upper BB, signaling weak buyers, bulls have a chance above $26.6k. Therefore, unless there is a clearly defined trend, March 27 lows would be a critical sell trigger line in the short term.
Resistance level to watch out for: $29k
Support level to watch out for: $26.6k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin prices are mostly stable when writing, looking at the general performance in the daily chart. Even though the coin has been under pressure in recent days, the failure of bears to push harder on March 28 means buyers have a chance. Still, how prices react between $26.6k and $29k would shape the coin's short to medium term trend.
#Bitcoin Technical Analysis
The path of least resistance, from the top-down preview, is northwards. From the daily chart, BTC has support at last week's lows at around $26.6k. Resistance is at $29k but $28k is also a vital reaction point marking March 27 highs. As it is, trading volumes are light, impacting momentum. Until there are sharp movements above or below $28k or $26.6k, traders can watch from the sidelines until a trend is defined.
What to Expect From #BTC?
Buyers are upbeat, looking at the chart, but the upside momentum is comparatively low. Though there are lower lows relative to the upper BB, signaling weak buyers, bulls have a chance above $26.6k. Therefore, unless there is a clearly defined trend, March 27 lows would be a critical sell trigger line in the short term.
Resistance level to watch out for: $29k
Support level to watch out for: $26.6k
Disclaimer: Opinions expressed are not investment advice. Do your research.
