Dear friends, BTC continues to rise as predicted. However, the market today is relatively stable as investors await news regarding the fate of the registration with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) by major financial companies including BlackRock. At the time of writing, it is trading at $29,550.
Regarding technical analysis:
The market seems to have been rejected after touching the uptrend channel, and this price decline may retest the $28,270 level in the near future. However, this is just my speculation. On the other hand, if BTCUSD closes above the high level or consolidates around the current trading range, it could once again make me believe that BTC may continue to rise strongly with an expected increase to $31,000. What are your thoughts on BTC as it expands its upward trend in the future?
Regarding technical analysis:
The market seems to have been rejected after touching the uptrend channel, and this price decline may retest the $28,270 level in the near future. However, this is just my speculation. On the other hand, if BTCUSD closes above the high level or consolidates around the current trading range, it could once again make me believe that BTC may continue to rise strongly with an expected increase to $31,000. What are your thoughts on BTC as it expands its upward trend in the future?
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