Bitcoin (BTC) Price Analysis for September 27

Bulls could not hold the initiative for long, as most of the cryptocurrencies are again in the red zone.

BTC/USD

The price of Bitcoin (BTC) is unchanged since yesterday.

On the hourly chart, the rate of BTC has returned to the local support level of $26,073. If the bears’ pressure continues and the daily bar closes near that mark, the accumulated energy might be enough for a breakout, followed by a move to the $26,000 area soon.

On the bigger time frame, the situation is also bearish as the rate has failed to fix above the area of $27,000. Thus, the volume keeps falling, which means that buyers are not ready yet to get back in the game.

In this regard, the breakout of the $26,081 support might be a prerequisite for a further drop to the $25,800 range.

From the midterm point of view, traders should also pay attention to the same level. If the candle closes near the $26,000 area or below it, the fall is likely to continue to the $25,000-$25,500 zone until mid-October.

Bitcoin is trading at $26,180 at press time.

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