Technical analysis by Lingrid about Symbol BTC: Buy recommendation (5/15/2024)

The price perfectly fulfilled my last idea. It hit the target zone. BTCUSDT is currently forming an inverse head-and-shoulders pattern, indicating that the market is still in a consolidation phase. The price is currently ranging below the channel's upper border, which I believe is a sign of accumulation. This accumulation will likely lead to a breakout and a subsequent bullish move. In the meantime, I expect the price to remain above the key support level of $60,000. There is a possibility that the market may attempt to seek liquidity below this support level, but I think the most reliable confirmation of a bullish trend would be a long-tailed bar extending from the support level and trendline. Before an upside breakout, I expect the market to move sideways for a period. My goal is resistance zone at 67200. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻