Long

BTC - Daily Bullish Momentum

Updated

has seen a bullish momentum recently, largely supported by a dovish outlook from the Federal Reserve. The Fed is now expected to implement further rate cuts by the end of 2024, which has softened the U.S. Dollar and, in turn, boosted BTC and gold prices. In addition, geopolitical uncertainties, such as the attempted assassination of a political figure, have driven safe-haven assets like gold and Bitcoin to new highs.

Technically, is currently trading within a bullish expanding triangle pattern, a structure often associated with further upside potential. Given the current price action and the liquidity above 60K, there’s a strong case for BTC to revisit the resistance zone and potentially break to new highs. However, it’s essential to monitor the price action around key levels to confirm this bullish scenario.

The combination of favorable macroeconomic conditions and supportive technical indicators suggests that could see continued growth in the near term.

Note

Don’t panic, this is just a compression consolidation before the rise. Stay patient, the bullish momentum is building up.

Trade active

BTC price surged right from the support line within the contracting consolidation I mentioned earlier, showing the strength of this setup. Stay tuned for the next moves!

Trade active

Told you about this rise. BTC price moved exactly as predicted, and this rise can continue. Stay tuned for next updates!

Sober_Trading

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