Vea también
04.05.2023 04:05 PMThe price of Bitcoin jumped higher in the short term and now is trading at 29,070. BTC/USD increased by 6.19% from Monday's low of 27,666 to 29,378 today's high. As you already know from my analyses, the bias is bullish despite temporary drops.
In the last 24 hours, BTC/USD is up by 2.33% and by 0.07% in the last 7 days. Technically, after its strong growth, we cannot exclude minor retreats. Still, in the short term, the crypto could extend its sideways movement.
As you can see on the H4 chart, the rate found demand at 27,883 and now it has turned to the upside. It has reached the median line (ml) which represents a dynamic resistance. The BTC/USD registered only false breakouts in the short term, so it could come back to retest the weekly pivot point of 28,748.
Bitcoin is trapped between 27,883 and 30,022 levels. From the technical point of view, the current sideways movement could represent a bullish pattern as the bias is bullish.
A new higher high, a bullish closure above 29,378 may announce further growth. Still, only a valid breakout through 30,022 activates further growth and really confirms an upside continuation. This is seen as a bullish opportunity.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
