Bitcoin (BTC), which has been in a falling trend structure for 12 days, may exhibit sharp movements after the breakout.
BTC, which has been pricing in a decreasing trend since May 10, is getting closer to the end. The pioneer of cryptocurrencies, which has not yet broken the trend structure, can make more volatile movements with this breakdown. Finally, the breaking of the falling trend structure in Pepe (PEPE) added more than 25 percent value to PEPE. After this move of PEPE, investors turned their eyes to the technical structure formed in BTC.
Bitcoin (BTC) Chart Evaluation
There is still no clearer price structure in BTC. BTC, which has risen from $ 25,870, continues to lose power since it could not break $ 27,600. BTC is currently trading at $ 26,867. The uncertainty of the direction determination on the BTC side could push the price towards $25.876 and $25,257, respectively.
BTC, which is currently trading above the $ 26,600 support, can attract more buyers in the process when it can rise above $ 28,200. The actions of regulators such as the FED, SEC and the news flow in the market are of absolute importance for the bullish expectations in BTC to increase. In the scenario where positive conditions are met, a test can be expected to 28.200 – 28.775 – 29.250 and 30.000 dollars resistances in BTC, respectively.
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