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Bitcoin retreated a little but the bias remains bullish. It could extend its growth anytime. In the short term, it moves sideways trying to accumulate more bullish energy before jumping higher. It's trading at 22,698 at the time of writing. After its last rally, a minor retreat was expected.
BTC/USD is up by 8.47% in the last 7 days but it's down by 1.22% in the last 24 hours. Bitcoin's further growth should help the altcoins to grow as well.
Technically, the 22,314 - 22,442 area represents a support zone. As long as the token stays above it, the crypto could resume its growth. Now, it is challenging the upper median line (uml) and 22,781.
The price action developed a triangle pattern. This could announce an upside continuation. Only a downside breakout from this formation could signal a deeper drop in the short term.
A valid breakout above 23,167 activates further growth and is seen as a new long opportunity.
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