Bitcoin Hovers Over $27.5K, Crypto Bulls Face $100M Liquidations as Altcoins Drop

“Technically, bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,” the analysts said. “All eyes will be on BTCUSD to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to as much as $29,500.”