Technical analysis by dytra about Symbol BTC: Buy recommendation (12/24/2023)

Anticipating an Upward Movement? While certainty remains elusive, consider this perspective. The current price is situated below the critical support range of 43,000 to 43,500. Observing a symmetrical triangle pattern in the 1H Chart, the price oscillates between the upper and lower triangle lines, gradually contracting. Historically, when reaching the apex of the triangle, a significant movement often occurs. Although the direction of the surge is uncertain, the prevailing bullish trend suggests an upward trajectory. A broader view on the 4-hour chart reveals a double bottom pattern, adding further bullish momentum. However, it's crucial to stay vigilant for a potential downturn below the triangle's lower boundary.