FX.co ★ Bitcoin Eyeing Crucial Break!

The price of Bitcoin is back above the 35,200 psychological level trying to close in the buyer's territory again. BTC/USD has increased as much as 35,649 level, resuming the former H4 bullish candle.

Bitcoin's price moves sideways in the short term after ending its temporary corrective phase. Technically, the crypto is expected to resume its major uptrend after its failure to close below 30,000.

BTC/USD Edges Higher!

BTC/USD has retested the Pivot Point (33,659) and now is back above the dotted downtrend line. The price is pressuring the median line (ML), closing and stabilizing above it should indicate a further growth ahead.

Escaping from the down channel signal another upside momentum in the upcoming period. Only a false breakout with great separation above the median line (ML) and through the downtrend line could invalidate the bullish scenario.

BTC/USD Trading Tips!

Buying from above 36,000 represents a good opportunity. Closing and stabilizing above the median line (ML) signals that BTC/USD will be expected to approach and reach the 41,986 all-time high.