Over the weekend numerous traders pointed out that Bitcoin (BTC) price broke its parabolic uptrend which had dated back to September. Technical analysts are bracing for a pullback as the dominant cryptocurrency eyes consolidation.
Bitcoin could still see a strong recovery after the weekly close if there is a continuation of the rally. But it would need to quickly re-enter the parabola or risk a potential downward correction.
Traders pinpoint $15,500 as the key level to maintain the bull…