Technical analysis by dytra about Symbol BTC: Buy recommendation (11/9/2023)

Fundamental: The recent approval of the BTCUSDT Bitcoin ETF spot in the US has sent positive shockwaves through the crypto market, providing a strong fundamental backing for a bullish outlook. Additionally, the upcoming halving event for Bitcoin adds further fuel to the potential for a sustained upward trend. Technical Bitcoin has exhibited a consistently bullish trend over the past few weeks, with a series of higher highs and higher lows. This technical momentum is supported by the convergence of key indicators, notably the 0.618 Fibonacci retracement level and the 20 Exponential Moving Average (EMA). Entry Idea Bitcoin has exhibited a consistently bullish trend over the past few weeks, with a series of higher highs and higher lows. This technical momentum is supported by the convergence of key indicators, notably the recent resistance (red box), 0.618 Fibonacci retracement level and the 20 Exponential Moving Average (EMA) in the 4H chart. That is about 35.000 to 36.000 Disclaimer This trading idea is for educational purposes only and does not constitute financial advice. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.