Can bulls hold the $28,000 mark? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser
Despite the slight fall, there are good chances to see a continued drop as the rate has broken the local support level at $28,114. In this case, the decline may lead to the test of the $27,600 zone shortly.
Almost nothing has changed on the daily chart from the technical point of view as neither bulls nor bears have seize the initiative. If buyers lose the $27,000 zone, the accumulated energy is supposed to be enough for the breakout of the support at $26,707.On the weekly time frame, it is too early to make any predictions as the price is trading in the middle of a wide channel. Respectively, ongoing sideways trading in the range of $27,500-$28,500 is the more likely scenario.
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