Lingrid | BITCOIN Ready for NEW ALL-TIME HIGHS ?

The price perfectly fulfilled my previous idea. It reached the target level. As we can see, the BTCUSDT has broken and closed above the flag pattern, a classic trend continuation pattern. The bullish candle that accompanied this break signals a strong display of buying power, indicating a dominant trend. At this point, I anticipate two possible scenarios: the market continues to push upwards or consolidates below the resistance level, accumulating momentum for a potential all-time high (ATH). It's also worth noting that there is a likelihood that the market may pull back to retest the flag pattern before resuming its upward trajectory. In my view, the price will likely fall below the key support level of 70,000 before making its next move upwards. My long term goal is resistance around 73500.

Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩‍💻

Comment:

Following breakout of the downward channel, BTCUSDT is currently retracing towards a crucial support level. A successful break and close above the key $70,000 level marks a major milestone in BTC's price action. As I mentioned earlier, it is likely that the market will seek liquidity below this level. If price action returns to this support level where the impulsive move previously occured, we can expect a potential buying opportunity in anticipation of the trend continuing. I expect a rejection of the support level followed by a move higher targeting a higher resistance area. My target is resistance zone at 73000.

Comment:

The market is currently retracting after testing the strong resistance zone, currently trading below the psychologically significant round number of $70,000. I believe that if the price creates a two-legged pullback, it will likely find support at the level, which could lead to a renewed bullish momentum and potentially another surge. Prior to this, the market formed an ascending triangle pattern, only to break through it. I expect a similar pattern to unfold, where the market creates a trend continuation pattern followed by an upward extension. I expect a deeper pullback to support, which is approximately a 61.8% retracement level of the Monday candle. My target is resistance zone at 71990.00

Comment:

The market has pulled back from the 72K resistance zone, and is now testing the upward trendline and support level at 67K. On the 1H timeframe, a double bottom pattern has emerged, indicating a bullish sign. On the daily timeframe, we have four consecutive red days. However, the market started to lose some bearish momentum. I anticipate the market to consolidate for a few days before potentially surging on the weekend, as it has already bounced off this level yesterday. Going forward, I expect to see a range pattern develop, such as a triangle or descending channel, accompanied by bullish divergence. My target is the resistance level at 70K