Bitcoin dropped as much as 29,868 yesterday where it has found support again. Now, it is trading in the green at 30,403 at the time of writing. The bias is bullish in the short term despite temporary drops. The rate could test and retest the immediate support levels before jumping higher.
In the last 24 hours, BTC/USD is up by 0.59% and by 0.86% in the last 7 days. Bitcoin's upside continuation should help the altcoins to jump higher as well.
BTC/USD New Leg Higher!
Technically, BTC/USD escaped from the minor flag pattern signaling an upside continuation. As long as it stays above the uptrend line, the rate should approach and reach new highs.
It has found support on the former low of 29,993 and now is almost to hit the 30,490 immediate high which represents a static resistance.
BTC/USD Outlook!
Jumping and closing above 30,490 activates further growth and is seen as a buying opportunity.
