Technical analysis by Edward_Fibonacci about Symbol BTC: Buy recommendation (10/30/2024)

BTCUSD is approaching the crucial resistance at $73,000, and all signs point to a strong breakout! The cup and handle pattern on the 1-day chart represents a perfect bull run, with support from the 34 and 89 EMAs pointing up - the kind of setup traders dream of.Positive macro news is fueling the market, with expectations that the positive economic indicators will continue to push prices higher. If BTCUSD can break above $73,000, the next target is $75,000 and beyond, a spectacular profit-taking at $100,000 could be within reach.