Technical analysis by TheTradeBorough about Symbol BTC: Buy recommendation (6/24/2024)

It appears that Bitcoin is setting up for a powerful, parabolic rally. We are anticipating a slide to the $50k support area, then a strong bullish run to $100k.The slide is in full effect. We expecting the $50k support area to be reached in the next few weeks.If we get a 4hr candle that closes completely underneath $59,333, Bitcoin is very likely to dump again to around $48,000We got the 4hr candle close underneath $59,333!Our long term bias has changed. We currently do not believe that Bitcoin will reach $100,000