💸 #BTC prepares for a new bullish impulse
Bitcoin moves according to a very simple pattern: growth - retracement or localized drop - formation of a continuation pattern - growth. This cycle repeats itself over and over again.
Currently, on the 1-hour time frame, the price is within a "expanding triangle" formation. The median lines of this figure have already been broken, that is, the zone of ~$103,150 to ~$103,550. This indicates a possible rise towards the upper edge of the formation.
Additionally, a bullish compression pattern type "cup with handle" 🐂 is forming just below the key resistance at ~$105,000. It is most likely to activate with a break of this resistance.
Overall, the local situation favors the continuation of the bullish trend 🔼.
In the worst-case scenario, even if the price falls below the current support (mirror zone), we could see the formation of a kind of flag between ~$101,650 and ~$105,000 📊. This scenario should not be dismissed either.
