FX.co ★ Bitcoin: bullish continuation pattern

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.