Bitcoin Market Update: Is a Breakout Imminent?
Looking at the 1-hour chart of Bitcoin/USDT displayed below, Bitcoin has been trading at $22987 as of press time. A breakout from the previous range bound pattern occurred, leading to a drop to the key support level at $22610.21.
BTC/USDT 1-Hour Analysis (Source: TradingView)
Additionally, Bitcoin is still above the 200-day moving average meaning that the bulls are still in control of the market although bears are sneaking to take the throne. However, they cannot resist the bull power at the moment.
Additionally, the…