Bitcoin Breaks Bearish Structure - Bullish Time?
![BITmarkets | Bitcoin Breaks Bearish Structure - Bullish Time?](https://wcms-cdn.bitmarkets.com/2310/Op9VxT6EMntT5t3L-!BTCBEAR.png)
Our latest Bitcoin-focused technical analysis expected Bitcoin (BTC) to potentially break its bearish structure, which seemingly appears to be the case at hand. BTC closed above the $27,400 level and thus the price structure has turned bullish in the four-hour time frame. This shift of character signifies the end of the price correction phase.
4h - time frame
BTC/USD - 4 Hour Time Frame
BTC has witnessed strong buying pressure which created a fundamental shift in its structure when looking at the four-hour time frame. Yet, the validity of this change will only be certain during the cryptocurrency's next move.
One possibility is that the price will create an equally-strong, impulsive bearish move which would reflect renewed seller strength and invalidate the buy setup. In the event of a corrective bearish move, further buyer pressure will be more likely.
The current price correction has several attractive zones ahead which it can test, with one of them hovering by the $27,400 price-tag which represents the level of the previous structure and the price's imbalance zone.
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