Will Bitcoin’s bullish rally see a pullback?

Bitcoin’s remarkable week-long pump extended past the $29.4k resistance level, as bulls ramped up the buying pressure.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Bitcoin’s

Nevertheless, the Chaikin Money Flow showed that capital inflows were subdued, as it hovered around the zero mark. With the Relative Strength Index hitting the overbought zone along with muted capital inflows, a minor pullback could be experienced in the short term. On the other hand, a sharp rejection at $30k could reintroduce bears back into the market with a downward move. This is a possibility if the $29.4k support doesn’t hold on a retest.

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