Bitcoin (BTCUSD) has filled numerous bullish conditions with the latest being holding the 1D MA50 (blue trend-line) as Support. This is basically the 3rd time testing and holding it since June 05. Even if that doesn't hold, we have the 1D MA200 (orange trend-line) directly below it as the ultimate long-term Support.
This trend-line just so happens to be exactly on the neckline of the Right Shoulder on the long-term Inverse Head and Shoulders (IH&S) pattern that has been in development since December 17 2024.
On top of all these, the market also formed a 1D Golden Cross a month ago, always a strong long-term bullish signal. IH&S patterns typically target their 2.0 Fibonacci extension, which sits at $168000.
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