Bitcoin- 27.500-27.600 is the zone to watch

On Wednesday, Bitcoin dropped under 27.500 zone support, maintaining intact the falling trend line that started in mid-April.
However, this drop lacked continuation to 26k support, instead, reversed yesterday, leaving a Piercing Line pattern (close to engulfing the previous candle) on our daily chart.
Although at this moment we need more confirmation, there are good perspectives for bulls.
Confirmation for a new leg up comes with a daily close above the 27.500-27.600 zone and in such an instance, 30k is exposed.
More important, though, is the fact that a break above this level would mark 26k as a new higher low in the sequence started in Nov-Dec 2022 and could lead to a new local high above the previous one.
As an alternative scenario, a drop under 26k would expose 21k
In conclusion, I'm bullish BTC, but with the price in no man's land at this moment, I wait for confirmation.

تعليق:

Bitcoin is trading in the middle of 62k-27.5k range.
The bullish idea, with confirmation above 27.500 remains intact.
However, at this moment sellers seems to have control