Bitcoin continues to trade above the $34,000 mark, with the overall trend remaining bullish. Formally speaking, BTC is currently experiencing a sideways movement between the buyer's level at $33,400 and the seller’s level at $35,100, indicative of a temporary equilibrium in force.
Considering the upward trend apparent in BTC’s chart, growth continuation is presently the main focus. Potential next targets for buyers could be the levels at $36,100 and $36,900.
Simultaneously, it is crucial to acknowledge that Bitcoin has been on an upward trajectory without undergoing any corrections for over two weeks now. A course correction before a continuation of the growth would be entirely reasonable and could even serve as a strategic advantage for accumulating long positions in BTC. In this scenario, the asset could retreat to the support levels of $30,700 and $29,900, which remain within the boundaries of the prevailing upward trend.
For buyers, any market corrections will remain safe as long as the long-term support level at $27,000, safeguarding the uptrend, remains unbreached.
However, the candlesticks are depicting the Hammer-like shape indicating signs of a Bullish trend incoming.
Considering the upward trend apparent in BTC’s chart, growth continuation is presently the main focus. Potential next targets for buyers could be the levels at $36,100 and $36,900.
Simultaneously, it is crucial to acknowledge that Bitcoin has been on an upward trajectory without undergoing any corrections for over two weeks now. A course correction before a continuation of the growth would be entirely reasonable and could even serve as a strategic advantage for accumulating long positions in BTC. In this scenario, the asset could retreat to the support levels of $30,700 and $29,900, which remain within the boundaries of the prevailing upward trend.
For buyers, any market corrections will remain safe as long as the long-term support level at $27,000, safeguarding the uptrend, remains unbreached.
However, the candlesticks are depicting the Hammer-like shape indicating signs of a Bullish trend incoming.
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