Technical analysis by Adoamigo about Symbol BTC: Buy recommendation (10/1/2023)

BITCOIN IS RECOVERING 28k LEVEL IN SIGHT #Bitcoin is beginning to recover as it approaches the $26,000 level, forming a valid trendline after rejecting the previous $25,000 level (Bullish Orderblock). The current price action is approaching a crucial resistance cluster between $27,300 and $27,500, and there is a healthy daily candle above the EMA 50. The price action broke through the EMA´s 50 & 200 Golden Cross on September 23rd. If this break continues into the next week, I´m expecting Bitcoin to reach at least the $28,000 level as an R1 pivot level. If $28,000 is broken aggressively, there is a good chance of Bitcoin returning to $30,000 again in mid-October. However, if the price action somehow breaks the $24,800 level, there could be further losses for Bitcoin, and a potential turning point is around $24,000, which would represent a bearish trend formation if it breaks. Stay updated with Bitcoin at: blog.bitcoin.com/