Technical analysis by dytra about Symbol BTC: Buy recommendation (6/23/2023)

Bitcoin Poised to Extend its Bullish Momentum Bitcoin, represented by BTCUSD , is currently forming a bullish triangle channel with support at 29,700 and resistance at 34,000 in 1H chart. This pattern indicates a potential continuation of the ongoing bull run, especially as inflationary pressures are subsiding. However, traders should exercise caution regarding the nearest resistance level at 30,800. If the price successfully breaks above this resistance, it would provide further confirmation of the bullish trend.