Technical analysis by BorsaTraderi about Symbol BTC: Buy recommendation (10/27/2024)

Let's look at the big picture with a simple and plain eye. Which formation does our chart create? Cup/Handle? Flag formation??? I don't think it matters which one you ask. If we start to stay above 73.641, which is our most important condition, we can start to see a nice rise. Another important point is that we have checked our trend resistance coming from above for the 4th time. This may indicate that its break is now close. Let's not forget that our chart is a weekly chart. When we look at our daily chart in the short term, we can see that it is again in an upward channel. While our channel trend creates support and resistance, we can also see that we have a resistance just above it at the level of 70.079. It is possible that we will get stuck here at the first contact. In a possible pullback, it may fall to 63.500 with a break of 65.300. IT IS NOT INVESTMENT ADVICE.