FX.co ★ Bitcoin: upside movement possible

Bitcoin is trading in the green at 26,519 at the time of writing. It has turned to the upside, signaling that the downwards movement ended. BTC/USD's upside movement helped the altcoins to rebound as well.

It has increased by 1.87% from yesterday's low of 26,095 to 26,584 today's high. It's up by 0.03% in the last 7 days but it's down by 0.82% in the last 24 hours.

BTC/USD Downside Ended!

From the technical point of view, BTC/USD failed to stay below the lower median line (lml) of the ascending pitchfork and now is struggling to rebound.

It's trapped between 26,730 and 26,008 levels. Escaping from this pattern could bring us something. As you can see on the H4 chart, the rate validated its breakout through the downtrend line, indicating that the sell-off ended.

BTC/USD Outlook!

A new higher high, a valid breakout above 26,730 may announce further growth. This could bring new longs.