Technical analysis by Tanzeelhanif about Symbol BTC: Buy recommendation (5/23/2024)

The current market trend is exhibiting bullish momentum, supported by a continuation pattern. Notably, there are no signs of divergence, which further reinforces the bullish sentiment. A bullish flag pattern has formed, indicating a potential continuation of the upward movement. To capitalize on this trend, a buy stop order is recommended at 71,894. This ensures that the position is only entered if the price action confirms the continuation of the bullish trend. To manage risk, a stop-loss order should be placed at 68,799.73, effectively limiting potential losses if the market reverses unexpectedly.