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The price of Bitcoin ended its retreat and now is fighting hard to rebound. It's trading at 23,929 at the time of writing. The bias remains bullish in the short term despite the last drop. After its strong growth, a minor drop was natural.
In the last 24 hours, BTC/USD is up by 0.38% and by 14.18% in the last 7 days. Technically, the crypto remains under strong upside pressure, further growth should help the altcoins to grow as well.
BTC/USD dropped a little after registering a false breakout above the weekly R3 of 26,346. Now, it has dropped but it has failed to stay below the weekly R2 (24,468) and under the major ascending pitchfork's median line (ML).
Personally, I've drawn a minor pitchfork as well, the median line (ml) stands as a dynamic support. BTC/USD registered only a false breakdown with great separation through this obstacle signaling strong buyers.
BTC/USD is trapped between 25,212 and 24,092 levels in the short term. Escaping from this pattern should bring new trading opportunities. A valid breakout above 25,212 activates further growth and is seen as a long signal.
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