It is unclear if Bitcoin (BTC) will break the threshold of $27000 in the near future. This level is considered to be a key resistance level as BTC has failed to pass over it multiple times. It appears that BTC has been stuck in a rut over the past week and is unlikely to make any major moves unless there is significant buying pressure.
In the short-term, things remain uncertain as BTC has not been able to break the resistance of $27000. The near term outlook is bearish with the possibility of further losses in the coming days. However, there could be opportunities in the mid to long-term as BTC is expected to break the resistance level eventually. In the long run, BTC is likely to reach new highs as the market capitalization continues to grow and the use cases become more prominent. As such, the sharp spike might be around the corner with a bullish price prediction in sight.
