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For the second time in 24 hours, bitcoin has come close to the lower end of the channel in which the asset has been trading for the past two weeks. This could indicate the strength of the sellers and another decline in the crypto market. If the bitcoin rate breaks out of the channel, there will be another drop to $27 500-28 000. The possibility of an impulse bounce and bitcoin returning to the channel, as it did yesterday (May 26) is not ruled out.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.

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