Technical analysis by bitcosar about Symbol BTC: Buy recommendation (8/26/2024)

The breakout I've been waiting for in Bitcoin has arrived. With today's daily close, we made the weekly close above $64,000, thus breaking the downtrend that has been going on for about the last month. We also made a solid, full-bodied, and voluminous candle close. BTC is currently trading at 64K levels and I expect a 10%-20% explosion in BTC in the near future. My short-term price target is 70K and above. In addition, we broke the 100-day EMA resistance on the daily chart. The $62,000 EMA resistance has now become a support level. Our supports are $63,000-$62,000-$60,000. During this process, they can hurt shorts, namely the bears, very badly. Be careful, please proceed with a stop, do not use leverage. If a daily close below $62,0000 occurs, my bullish scenario will be spoiled, but I don't think it will. I will enter a long trade, if this share gets good likes, maybe I will share the trade I will enter with you as a signal. Make sure you follow me so you don't miss any important developments. I spent a lot of time and effort writing this article and trying to make it really useful for you, so please like, comment, bookmark and share. Thanks 🙏 Disclaimer: My articles are not investment advice, they are for informational purposes only. They contain my own thoughts and comments.