$BTC
BTC is preparing for continued growth
#Bitcoin❗ is moving in a very simple pattern: growth - pullback or localized decline - formation of a trend continuation pattern - growth. This cycle repeats.
Currently, on the hourly timeframe, the price is moving within the formation of an "expanding triangle". A breakout of its average lines has occurred, i.e. the zones around ~$103,150 and ~$103,550. This is #signal for movement towards the upper boundary of the formation.
A bullish "cup with handle" 🐂 is also forming under key resistance around ~$105,000. It is likely to trigger upon a breakout of resistance.
Overall, locally the situation favors continuation #uptrend ↗️.
In the worst-case scenario, even if the price drops below the current support represented by the mirror zone, we should expect the formation of some flag between ~$101,650 and ~$105,000 📊. Such a scenario should not be ignored either.
👑 @WISE PUMPS
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BTC
103,224.7
-0.06%