Bitcoin broke through an important resistance zone at the July peak at 31800, thereby creating a Double Bottom pattern (bottoms in June and September 2023), opening up the potential for a price increase to 39000. Bullish Momentum The strength helped BTC surpass the 200-day MA, coinciding with the August peak (28150). Additionally, on the weekly chart BTC broke above the Ichimoku cloud for the first time since 2021
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.