Technical analysis by BearKingdomTrading about Symbol BTC: Buy recommendation (7/9/2024)

👨‍🦳 #BTCUSD (BITCOIN) 🕓 Time Frame: Weekly (Log) 🔼 Status: Bullish 📆 09.07.2024 Bitcoin's Weekly Chart: FVG Filled, Potential for Further Growth if Support Holds Upon analyzing the #Bitcoin chart on the weekly timeframe, we observe that after two months, this cryptocurrency finally experienced a drop to fill its old Fair Value Gap (FVG). Interestingly, following this fill, the price managed to rise by 10%, moving from $53,500 to $58,300. Currently, Bitcoin is trading around $57,200. If it can hold above the support level of $50,500 to $53,500, further growth in price can be expected. Previous assumptions from the analysis remain valid. Keep an eye on these levels to gauge Bitcoin's next movements and potential bullish continuation.