Technical analysis by funtimes about Symbol BTC: Buy recommendation (5/29/2024)

One possible scenario I'm watching.One more little dump within the current range, just to confuse and frustrate everyone and try to get a few more cheap sats out of us.Then convergence of the bull flag and inverse head and shoulders... rip upwards.Target $90,800.Well it didn't go down all the way to the support I was watching for, and now it's pushing right against the resistance line at $71,300.If it breaks this resistance, it has an excellent chance to break out of the range and explore new all time highs, expected to go at least into the mid $80Ks.There's the touch on support at 65KLater than I expected but if we're going to rally, it needs to happen next week and break through resistance at $71K. If it does, look out for new all time highs. If not, the drop would be to the next major support in the $50Ks at least.Price has broken below my long term support line. There is currently a bounce back to about $65,500, but it's still under the support line, now turned resistance. As much as I hate to do it, I now turn my highest probability expectations to BEARISH, with an expected retest of support around $56K.Bearish calls in the above comments were correct. There was a spring-like bounce from a low around $58,400, now back up to $61,500.I don't think we are confirmed out of bearish territory yet. This is very much a situation where we wait and see the next move. I am accumulating at 59K and below, with understanding it may go even lower to test $56K and then $50K, or it may break Bullish again from here and come out from this range entirely.