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Buyers failed to hold the initiative until the end of the day and most coins are in the red.
BTC/USD
Bitcoin (BTC) price is down 0.23% in the last 24 hours.
Despite the slight pullback, there are good chances for another drop as the price broke the local support level at $28,114. If so, the decline could lead to a test of the $27,600 zone shortly.
Almost nothing has changed on the daily chart from a technical point of view as neither bulls nor bears have taken the initiative. If buyers lose the $27,000 zone, the accumulated energy should be enough to break the $26,707 support.
All in all, the price could reach the $26,000 area by mid-April.
It is too early to make predictions on the weekly time frame as the price is trading in the middle of a wide channel. Accordingly, a sustained sideways trade in the $27,500-$28,500 range is the more likely scenario.
Bitcoin is trading at $28,000 at press time.
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