Previously, the price formed an inverse Head & Shoulders pattern and broke the neckline to the upside. Now, it is consolidating in a bull pennant pattern, indicating a high probability of further upward movement. If the price breaks the resistance zone, reaching 80k is likely.
Currently, attention is on the DXY and S&P500. If the DXY continues to decline, a new ATH for both the S&P500 and BTC is expected. Therefore, monitoring the DXY is crucial to anticipate BTC's next direction. For now, the DXY has been declining, so a bullish move for BTC could be imminent!
Currently, attention is on the DXY and S&P500. If the DXY continues to decline, a new ATH for both the S&P500 and BTC is expected. Therefore, monitoring the DXY is crucial to anticipate BTC's next direction. For now, the DXY has been declining, so a bullish move for BTC could be imminent!
Note
S&P500 had a nice bounce - Im expecting BTC to follow on monday!Note
The price is breaking above the bull pennant pattern!!Note
Following the expected path!!
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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.