Technical analysis by HaydenOtto about Symbol BTC: Buy recommendation (12/31/2023)

BTC price has been consolidating at highs as we await the imminent ETF approval announcement. At this point a bullish pennant pattern has formed and the daily bollinger bands have tightened, signalling that we will soon see volatility that triggers a breakout. In terms of targets, the fib extension of the chart pattern says 47.3k to 49k. I am keeping in mind however that Bitcoin has never exceeded the 61.8% retracement of the previous drawdown pre-halving. Although the ETF approval announcement could make things different this time. If we exceed 50k, buckle up lads.Rejected at the 61.8 fib almost perfectly!