💰 $BTC is preparing for continued growth
#bitcoin moves according to a very simple pattern: growth - retracement or localized decline - formation of a trend continuation pattern - growth. This cycle repeats itself.
Now on the hourly timeframe the price is moving inside the "expanding triangle" formation. There was a breakdown of its midlines, i.e. the zone at ~$103,150 and ~$103,550. This is a #signal to move to the upper boundary of the formation.
There is also a 🐂 cup-with-handle bullish "squeeze" formation forming under the key resistance at ~$105,000. It is most likely to work out on a resistance breakout.
In general, locally the situation is in favor of continuing the #uptrend ↗️.
In the extreme case, even if the price goes under the current support in the form of a mirror zone, we should expect the formation of some kind of flag between ~$101,650 and ~$105,000 📊. Such a scenario cannot be ignored either.
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