Technical analysis by function_mechanic about Symbol BTC: Buy recommendation (9/27/2024)

Bitcoin is starting to look quite bullish.On lower time frames we have an uptrend. Higher highs and higher lows:Also inverse head and shoulders. For my brain it's easier to see it on an upside-down chart:On the higher time frame we're still in a consolidation though. It is important to be ready for more sideways movement and short-term swings. Or we can get a breakout in just a few days. Who knows?69K is currently the most important resistance and, once broken, is likely to become a point of no return.I want to add, October is always a green month in a bull run. But that doesn't mean that November is. Look at 2019 for an example. And since the previous major wave started in October, maybe it's not going to happen this time according to the rule of alternation. Just something to keep in mind. According to my study of the cycles (tradingview.com/chart/BTCUSD/uwZJ094n-Timeline-of-Bitcoin-cycles-and-where-we-are-now/), we should get a new ATH anytime between November and February. There is absolutely nothing that makes the following scenario impossible for example: