Technical analysis by stewdamus about Symbol BTC: Buy recommendation (2/9/2024)

Bitcoin to 48k again? Numerous indicators are showing that Bitcoin may want to retest that 48k resistance level again. The retest comes quicker than I anticipated by I am not going to fight price action here. VRVP and FRVP support strong accumulation at or near the neckline of that inverse H&S pattern I have drawn. Neckline has been broken to the upside where there is not a lot of selling pressure. Playing a BTC long here to 48k with a SL just below the point of control (red line) on the VRVP.Comment: Raising stops to break even. Target 48k is close.Comment: Took half off at 47.5k and raised stops again to 46.3k