## Bitcoin (BTC) Price Analysis – August 27th 📊 📈 📉 💰 Crypto analysts are optimistic about the short-term outlook for BTC with top coins experiencing green gains, according to CoinStats. 📈 💰 🧠 The price of Bitcoin (BTC) has risen by 1.45% over the past 24 hours. On the hourly chart, the rate is hovering in the middle of its local channel. However, if the daily bar closes near resistance, a further rise could test the $112,000 mark. ⬆️ Longer term analysis reveals the price hasn’t rebounded significantly after a false breakout from support at $109,283. 👀 📉 If current conditions persist, we may see a correction to the $106,000-$108,000 range. 🔄 In the midterm term, keep your eye on the weekly candle’s closing price in relation to the previous week’s low. A breakout could signal continued decline towards $105,000. 📉 Bitcoin is currently trading at $111,130 as of press time. Read the original article on U.Today.