Bitcoin (BTC) continues to attract the attention of traders and investors in the cryptocurrency world. $BTC was recently rejected from horizontal resistance and is currently retesting above the bullish pennant, in line with expectations. The Ichimoku cloud and the moving average MA 21 act as support. A rebound from this level and a convincing break of horizontal resistance will confirm the bullish trend.
Price Action Analysis: BTC has been rejected from horizontal resistance and is currently retesting the level above the bullish pennant. This indicates that buyers continue to be active and strive for further price increases. The Ichimoku cloud and the moving average MA 21 act as support, which confirms the presence of bullish sentiment in the market. In the event of a rebound from the current level and a successful breakthrough of horizontal resistance, this will be a convincing signal in favor of a bullish trend.
Market Impact: This development in the BTC/USDT market could have a significant impact on the overall cryptocurrency ecosystem. A successful break of the horizontal resistance and confirmation of the bullish trend may attract more traders and investors who will see this as a signal for the price of BTC to rise. This can create a positive atmosphere in the market and contribute to the growth of other cryptocurrency assets.
Conclusion: Overall, BTC continues to show bullish signals despite its deviation from horizontal resistance. The current retest above the bullish pennant and support from the Ichimoku cloud and moving average MA 21 indicate buyer confidence.
