Technical analysis by TrendShot about Symbol BTC: Buy recommendation (2/5/2024)

BTCUSDT:Bitcoin broke the daily trend strongly and is pulling back to the same area.We expect it to complete the cup pattern after the pullbackYou can wait until the pullback is complete and start moving upOr enter a long position with the specified stop loss in the chart.If Bitcoin cannot break the trend line above the channel.And this area in which the price movement has been suffering should be broken down.We will have the possibility of moving towards the bottom of the channel.And we will pull back to the lower yellow lineNote that the move up or down is not confirmed yet.So we waitYou can close your long position to confirm the breakoutClose Your Long Position