Technical analysis by minno91 about Symbol BTC: Buy recommendation (7/8/2024)

Are we finally going up? It’s quite possible! Market Context Bitcoin is showing strong signs of a potential upward movement. Despite a poor weekly candle close, this might be a clever fakeout designed to shake out the shorts. Let’s dive in! Bullish Signals •Weekly Liquidity: There’s a ton of liquidity above $72K, and Bitcoin loves to chase liquidity. •Bullish Divergence: On the daily chart, we see a bullish divergence forming. This is often a precursor to significant upward moves. •Weekly Uptrend: We’re still trading within an uptrend on the weekly chart. •Engulfing Candle: A huge bullish engulfing candle post-divergence indicates that the bulls are back in action. Strategy I’m betting on a substantial upward move for BTCUSDT. Targeting 69K as TP1, and who knows? $100K could be on the horizon. It’s not just a dream—it’s a real possibility given the current setup. Action Plan Going long on BTCUSDT. Let’s ride this wave and aim high! Good luck, everyone! 🚀🌕