BTC has formed a pennant pattern and it's currently testing the bottom. If BTC breaks through the bottom, look for it to go as low at 28,300 before finding support.
If BTC breaks out of the top of the current pennant pattern look for it to continue trading towards the top of the current trading channel marked on the chart.
In the long term BTC is still very bullish. However, we may see a pullback here before continuing to rise.
Hodl on dear traders (unless you are a day trader). A pullback is a healthy correction and needs to occur in order to build supporting structure for future movements.
If BTC breaks out of the top of the current pennant pattern look for it to continue trading towards the top of the current trading channel marked on the chart.
In the long term BTC is still very bullish. However, we may see a pullback here before continuing to rise.
Hodl on dear traders (unless you are a day trader). A pullback is a healthy correction and needs to occur in order to build supporting structure for future movements.