Technical analysis by function_mechanic about Symbol BTC: Buy recommendation (10/21/2024)

Ignoring the noise and looking at Bitcoin weekly line chart, we can see that the current consolidation fits nicely into a parallel channel with 5 touch points and we have a strong breakout.Last week close is also the highest since early June and we have a higher high relative to the July high.This is another bullish sign and similarly to my monthly idea that I shared earlier can be seen as an early breakout signal.