FX.co ★ Bitcoin accumulates more bullish energy

BTC/USD extended its sideways movement. It was trading at 19,018 at the time of writing. It has dropped by 3.99% from 19,700 Tuesday's high to 18,913 today's low. The current sideways movement forced the altcoins to move sideways as well.

BTC/USD cannot move like this indefinitely, a strong move could move the altcoins as well. Technically, the price action signaled exhausted sellers and announced a potential rebound, Still, it's premature to talk about it because is far from being confirmed.

BTC/USD Trading In The Red!

In the short term, it's trapped between 18,931 and 19,700 levels. The immediate downtrend line represents a dynamic resistance. Technically, the price action signaled that the downside is limited.

In the short term, we can see false breakouts through the near-term obstacles. Only escaping from the major range could bring us a clear direction.

BTC/USD Prediction!

A valid breakout above the downtrend line and through 19,700 activates further growth at least towards 20,381.