Technical analysis by CryptoOverseerX about Symbol BTC: Buy recommendation (8/19/2024)

In my previous weekly timeframe analysis, I expected the price action to create a wick around $54,000-$56,000 before closing around $58,000 to end the week. And that is exactly what happened. Now that we have a new weekly candle, what should we expect for this week? I’m expecting the price action to at least touch the 40-EMA on the weekly timeframe (currently sitting at $56,264) before creating a rejection and pushing the price to possibly break $60,000-$62,000, which is currently acting as crucial resistance. Hopefully, we’ll see BTC retesting the high of the downward channel this week (around $67,000). I’m looking for opportunities to enter the market this week. Stay tuned. PREVIOUS ANALYSIS : https://www.tradingview.com/chart/BTCUSDT/wr9aHxWc-BTC-USDT-Updated-Market-Outlook-for-This-Week-What-to-Expect/