Lingrid | BITCOIN Bullish SIGNAL: channel BREAKOUT

21. Okt.

The price perfectly fulfilled my last idea. It hit the target zone. BTCUSDT has finally broken and closed above the downward channel that has been forming since May. In the bigger picture, this movement resembles a bullish flag pattern, which is typically a trend continuation pattern. We've seen a similar scenario play out recently in the gold market. After the breakout, it’s normal for the market to lose some momentum, and I anticipate a pullback to retest the channel border and the upward trendline area. Additionally, it's worth noting that the price action is forming an AB=CD pattern, with the completion point expected to be around 72,000. This setup could provide a solid opportunity for further bullish movement. My goal is resistance zone around 72500.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻