FX.co ★ Bitcoin acumulates more bullish energy

Bitcoin continues to move sideways in the short term. It's trading at 28,145 at the time of writing. The bias remains bullish in the short term despite temporary retreats or sideways movements.

In the last 24 hours, Bitcoin is up by 0.74% but it's down by 0.27% in the last 7 days. BTC/USD's upside continuation should help the altcoin to grow as well.

BTC/USD Seems Undecided!

As you can see on the H4 chart, the rate continues to move sideways between the 26,700 and 28,936 levels. Now, it has tested and retested the weekly pivot point of 27,966 and continues to stay near the 28,936 resistance signaling an imminent breakout.

Technically, escaping from this pattern should bring us new opportunities. The bias remains bullish as long as it stays above the median line (ml).

BTC/USD Outlook!

A valid breakout through 28,936 activates further growth at least towards the upper median line (uml).