Technical analysis by Toro_Chill about Symbol BTC: Buy recommendation (7/29/2024)

The BTCUSDT trend is currently in a strong growth phase. The 34 EMA is above the 89 EMA, indicating that the long-term uptrend is still intact. The price continues to move near the upper Bollinger Band, suggesting that the growth momentum remains strong. The upward trendline drawn from recent lows is holding firm, creating a strong support area for the price. Bitcoin's price is likely to continue rising along this trendline. If it surpasses the resistance level near 69,407 USD, the next target could be 72,000 USD.