Over the past few days, Bitcoin's price has remained within a narrow channel, fluctuating between $25,700 and $26,230. This trend is bearish, meaning that attempts to break out to higher levels have been met with resistance and declines. Specifically, there are two key resistance levels at $27,400 and $27,800 where Bitcoin has struggled to move past. For the time being, the medium-term outlook for Bitcoin remains bearish. A significant shift in momentum or other strong indicators would be required to signal a reversal from this trend.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.