BTC is currently maintaining its position above the 50% retracement level, following a rejection from the descending trendline, the MA 50, and the Ichimoku cloud.
Bulls must regain momentum and push the price from the 50% to the 61.8% Fibonacci retracement level to confirm a bullish breakout from the descending trendline. Failure to maintain this level could result in another test of horizontal support.
