Bitcoin is trading in the green at 27,649 at the time of writing. You knew from my previous analysis that the cryptocurrency may resume its growth after the short-term retreat. Technically, BTC/USD moves sideways trying to accumulate more bullish energy.
BTC/USD is down by 1.01% in the last 24 hours and by 0.92% in the last 7 days. The retreat dragged the altcoins down as well.
BTC/USD Attracts More Buyers!
BTC/USD retested the lower median line (lml) of the ascending pitchfork which represents a dynamic support and now is fighting hard to rebound.
As long as it stays above it, the crypto may develop a new bullish momentum. The price action developed a triangle pattern, so escaping from this formation could bring us new opportunities.
BTC/USD Outlook!
Staying above the lower median line (lml) and making a valid breakout through the triangle's resistance validates a larger growth.
