BTC has dropped out of the consolidation channel between $27,727.19 and $29,972.72 in the last week. At press time, BTC was attempting to recover back above $27,727.19, which is evident by the wick present underneath the current daily candle.
Technical indicators on the leading crypto's daily chart suggested that BTC's price would continue to fall in the following 24-48 hours, however. Should this bearish thesis play out, the crypto's price will make a move toward $27,100 in the upcoming days. Conversely, BTC closing above the $27,727.19 mark within the next 48 hours could result in it climbing back to $28,050.
