Bitcoin rebounded after failing to stay under 30,066 static support. Technically, BTC/USD has found temporary resistance, so we cannot exclude a minor decline. Only a valid breakout through the immediate resistance levels could really signal more gains.
Bitcoin's growth helped the altcoins to increase as well in the short term. It remains to see what will really happen as the bearish bias is still intact. We need a strong buying signal before considering going long. BTC/USD could drop anytime again as long as it stays under the immediate obstacles.
BTC/USD Buying Pressure!
Bitcoin continues to pressure the downtrend line. It has registered a false breakout above this dynamic resistance and through 32,502.29. Only a valid breakout above these obstacles could confirm a potential strong growth.
Another false breakout and rejection from the downtrend line could signal a fresh temporary decline. Bitcoin is at crossroads here, I really hope that we'll have a good trading opportunity soon.
Forecast!
Bitcoin becomes a good buy if it jumps, closes, and stabilizes above the 32,875.42 yesterday's high. A new higher high could really announce an important growth. 36,623 is seen as a first upside target.
