The growth of the asset continued without the expected rollback, Bitcoin reached the upward movement target at $27,900.
The candle finally closed above the exponential moving average EMA 55 D, which previously stopped Bitcoin’s growth attempts.
The price broke through the upper boundary of the horizontal channel, the upward movement was stopped by the 0.236 Fibonacci retracement level ($28,300).
So far, the trading volumes that accompanied the growth of the instrument are confusing.
It is likely that after the upward momentum, some of the long positions will be fixed, which will lead to a local pullback of the asset.
We expect a Bitcoin EMA 55 D test, with confirmation of which, as a support level, we can consider opening a short—term long position in the region of $27,400 - $27,600.
The purpose of asset growth will be the seller’s block at around $28,700.