Technical analysis by Edward_Fibonacci about Symbol BTC: Buy recommendation (10/29/2024)

As an analyst, I see a clear “Cup and Handle” pattern forming on this BTCUSDT chart, with the “cup” area completed and the current price breaking above the downtrend line within the “handle”. This is a strong bullish signal, especially as the price is above the 34 and 89 EMAs, indicating that the long-term trend remains positive.It is worth noting that once BTC breaks the strong resistance at 72,000 USDT, it is likely that the price will head towards the target of 101,000 USDT as predicted on the chart. This opens up a great opportunity for investors as buying momentum is triggered after breaking this important resistance level.