Technical analysis by citaumeh about Symbol BTC: Buy recommendation (6/30/2024)

This bull run is playing out very similarly to the 2016/2017 bull run everyone loved because Bitcoin had its traditional parabolic blowoff top. We have a similar three-white soldier bullish reversal 6M candlestick pattern, which is a very bullish pattern that tends to end in a blowoff top (e.g., the 2016/2017 BTC bull run). With the Bitcoin ETFs bringing in waves of capital inflows, this bull run is prime to play out similarly and be one to remember. Being that BTC made new highs prior to the halving, let’s see what the supply/demand dynamics are like now that the 2024 halving is over.