$BTC

Bitcoin is breaking out of the bear market structure and creating a new uptrend that will lead to an all-time high! This thesis is supported by the fact that after the halving event, Bitcoin always goes up (statistically, 100% probability). The halving event took place 1 month ago and cut the reward for mines by half. It's recommended to trade with the trend to increase the probability of success in your trades.

From a technical perspective, Bitcoin has been moving in the ascending parallel channel, so you can definitely take advantage of that and buy/sell Bitcoin at the upward sloping trendlines! With TradingView, you can set an alert, and when it hits, you will get notified. 

What are the resistances on the way up? As I mentioned, the upward-sloping trendline of the parallel ascending channel is the first one. The second one is the FAIR VALUE GAP (FVGAP) which was created in April 2024. Usually, the start of the GAP and the end of the GAP are strong levels by themselves. You can use these levels for your short-term trades with leverage. These resistances Bitcoin needs to break before a continuation to a new all-time high; I don't see any other significant levels worth mentioning. Always choose the strongest levels to increase the probability of success.

I am bullish on Bitcoin, and I believe we will see prices above 100k in Q3/Q4 2024. Let me know in the comment section - are you still waiting for a big crash to buy the dip? Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.