Technical analysis by Bitcoin_Analyzer about Symbol BTC: Buy recommendation (6/28/2023)

#Bitcoin Soaks Selling Pressure; Will BTC Rally Above $31.3k? Past Performance of Bitcoin Bitcoin is roughly 20% from June 2023 lows and resilient, soaking selling pressure, looking at the performance in the daily chart. Even though there were attempts for lower lows, prices are firm above the $30k psychological level and $29.8k. Meanwhile, the coin is defying selling pressure and may break above $31.3k in the days ahead in a buy trend continuation formation. #Bitcoin Technical Analysis Traders are upbeat, but BTC, at the moment, remains inside a horizontal range with caps at $31.3k and $29.8k support. Unless there is a comprehensive, high-volume close above last week's highs, conservative, risk-on traders can wait for trend definition. Only after then can they search for loading entries to buy on dips in a buy trend continuation formation that could lift BTC towards $32.5k. Even so, BTC remains within a bullish formation, and the contraction from last week has formed a minor bull flag. The uptrend will be valid if prices are inside the June 21 to 23 trade range. What to Expect from #BTC? Risk-off traders can load on dips, expecting Bitcoin to resume the uptrend. Traders are bullish, but this can change if the upside momentum is not sustained above the $29.8k primary support level. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.