Bears are more powerful than bulls today as the rates of coins keep falling.

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The rate of Bitcoin (BTC) has declined by 2.11% over the last 24 hours.

BTC/USD chart by TradingView

The rate of Bitcoin (BTC) is trading in the middle of the local channel, between the support at $27,828 and the resistance at $28,332. There are low chances of seeing any sharp moves by the end of day, as the coin has passed most of its ATR.

BTC/USD chart by TradingView

On the daily chart, the rate of Bitcoin (BTC) has bounced off the support level at $27,828. At the moment, traders should pay attention to the bar closure.

If sellers’ pressure continues, the energy may be enough for the breakout, followed by a blast to the $27,000-$27,500 area.

ETH/USD chart byTradingView

On the weekly chart, one should pay attention to the candle closure. If the bar closes below yesterday’s low at $28,184, the decline may continue to the support level at $26,688. Such a scenario is relevant until mid-May.

Bitcoin is trading at $28,075 at press time.

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