Technical analysis by avatarfreak about Symbol BTC: Buy recommendation (11/8/2024)

Disclaimer: This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.Time Frame: 1-hourMarket Analysis:The 1-hour BTCUSD chart exhibits a weakening bullish trend. However, with the price holding above the 20 and 50 EMA, there's potential for another upward move. Key support level to watch: 74,551.42. A break below this level could trigger a downturn to fill the imbalance gap." gap.Key Levels:Support: 74551.42Trading Bias:Following up on our previous analysis, the BTCUSD price continues to consolidate within an bullish pennant pattern on the 1-hour chart. The probability of an upward breakout is increasing, which could propel the price towards new highs, potentially to 78,000.https://www.tradingview.com/x/zsWD23lj/