BTCUSDT Long
Based on the analysis of the 4-hour Bitcoin (BTC) chart, here are the key points:
Current Price Action:
BTC is retracing to the 0.5 Fibonacci level.
This retracement suggests potential for a bounce at this level.
Chart Patterns:
A bullish flag formation is present, indicating a continuation pattern.
The current trend remains bullish.
Technical Indicators:
No harmonic patterns or reversal patterns have been identified.
There are no bearish divergences observed.
Conclusion:
The bullish trend is expected to continue.
If the price breaks above the previous higher high (HH), it is a signal to buy.
The target for this bullish run is projected to be around $79,000.
This analysis suggests a strong continuation of the bullish trend with potential buying opportunities upon breaking the previous highs.
Current Price Action:
BTC is retracing to the 0.5 Fibonacci level.
This retracement suggests potential for a bounce at this level.
Chart Patterns:
A bullish flag formation is present, indicating a continuation pattern.
The current trend remains bullish.
Technical Indicators:
No harmonic patterns or reversal patterns have been identified.
There are no bearish divergences observed.
Conclusion:
The bullish trend is expected to continue.
If the price breaks above the previous higher high (HH), it is a signal to buy.
The target for this bullish run is projected to be around $79,000.
This analysis suggests a strong continuation of the bullish trend with potential buying opportunities upon breaking the previous highs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.