Bitcoin dropped again and now retests dynamic support. It could still increase as long as it stays above this line. BTC/USD failed to confirm a potential leg higher, that's why we have to wait for a strong bullish signal before buying this crypto.
The price of Bitcoin seems vulnerable. Dropping and stabilizing under the critical support level may signal a deeper drop and it could invalidate the bullish scenario.
BTC/USD Sideways Movement!
BTC/USD failed to make a new higher high indicating strong selling pressure. Now it is retesting the ascending pitchfork's lower median line (LML) after failing to take out the first warning line (wl1).
Dropping and stabilizing under the lower median line (LML) signals a potential drop towards the 30,066 static support.
Outlook!
A valid breakout above 36,623.79 high validates a strong upwards movement towards the median line (ML) and up to the 43,000 psychological level.
