Bitcoin's Surprise Move...
Under the pressure of consecutive negative news, BTC dipped below a critical support level, creating a bearish sentiment in the market. However, thanks to the effect of the ETF news, it gained 8% in a short period of time. The well-timed ETF news was one of the main factors that pushed BTC from $24,800 to $26,880. Investors and the markets breathed a sigh of relief as BTC made this leap. But can this upward momentum in BTC be sustained?
To answer this question, it is essential to follow both fundamental and technical analysis. Looking at the technical structure of BTC, we see that it broke the downtrend starting from $28,400.
