Breakout Candle Confirms Uptrend: Higher Levels in Sight for BTC
Updated
hello guys.
let's dive into the monthly time frame of btc analysis.
Breakout Confirmation:
The candle highlighted in yellow, initially suspected to be a "hunting candle," has not confirmed its status as such. With 6 subsequent candles failing to validate a hunting pattern, it is more likely a breakout candle indicating a continuation of the bullish trend.
Scenario Probability:
The more probable scenario suggests a continued upward movement, targeting the next significant resistance level above $72,000.
The scenario where the price touches the lower level (around $42,000) is less likely, given the strong bullish momentum and support levels seen in the recent price action.
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❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
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let's dive into the monthly time frame of btc analysis.
Breakout Confirmation:
The candle highlighted in yellow, initially suspected to be a "hunting candle," has not confirmed its status as such. With 6 subsequent candles failing to validate a hunting pattern, it is more likely a breakout candle indicating a continuation of the bullish trend.
Scenario Probability:
The more probable scenario suggests a continued upward movement, targeting the next significant resistance level above $72,000.
The scenario where the price touches the lower level (around $42,000) is less likely, given the strong bullish momentum and support levels seen in the recent price action.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
short term idea:
target: $59926
Trade closed: target reached
the short-term signal hit the target:
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telegram channel: t.me/melikatrader94
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