Technical analysis by ranxero46 about Symbol BTC: Buy recommendation (8/15/2024)

Between 19th and 31st of July a bearish M-pattern was created, followed by massive drop. In the recent days we see a bullish W-pattern building and once it is finished the probability for a long entry is high, with a profit target at 72K.Additionally BTC is building the pattern after the RSI has already broken the 14 days SMA.An additional RSI-divergence with the double bottoms of the W-pattern would be nice though.