BTC Technical Analysis - Bitcoin Eyes $33K After Overtaking $30K Last Night

With a spike in buying pressure overnight, Bitcoin retakes the $30K mark and increases the chances of a trend reversal. However, the bullish candle formation failed to surpass the resistance candle hinting at a potential sideways trend for the rest of this week. So, should you consider buying or wait till the consolidation ends? Please watch the entire video to get your solution, as it will assist you in your own study. Commencing with the market values, BTC's current market price today is $30,044 at 5:30 GMT, with a rise of 3.26% in the past 24 hours, reflecting a resurgence of bullish prowess. With a bullish candle regaining the $30K mark, BTC price action forms a bearish candle with a long-wick formation. This candle represents a heightened selling pressure. However, the increase in trading volume we saw yesterday supporting the bullish comeback reflects a high possibility of trend continuation. Analyzing the graph lines we can say that https://www.tradingview.com/x/NwrXFJwh/ The 3 lines in the technical chart represent the daily EMAs that remain pointed down, with the 50 and 100-day EMAs providing a dynamic counter to attempts at bullish reversal.