$BTC We haven’t looked at 💰BTC for a long time, but in the meantime the global picture is interesting
Of course, I’ll immediately emphasize that I have no doubts about the continued growth and overshoot; by the end of the year, and especially at the peak of the autumn season, I fix part of BTC at the level of $95,000 - $110,000. 📈
For this reason, I am analyzing this asset solely for your sake, while speculating a little on medium-term price movements. Here my plans do not change from the $19,000 mark. You can look at the graph and tell me where I was wrong.
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🔍At the moment, if you look at a more local picture, BTC has already recovered from the fall and returned to the asset accumulation range, collecting liquidity below.
This fall formed a hammer reversal candlestick pattern on the weekly timeframe and at the same time we received a corrective movement to the 0.5 Fibonacci level. Such a closing of the week is considered extremely positive, and a long shadow at the bottom of the candle indicates the strength of buyers. I noted several more similar cases on the chart, where after this pattern we experienced an upward movement. In other words, the hammer tells us that the market correction is over.✏️
🐄As long as BTC is above $56k, the scenario remains bullish, but locally we are monitoring the lower border of the sideways trend at $62k. Another rather powerful fact of rapid growth is the reduction in the supply of BTC on exchanges. Those who want to sell at current prices are lower and lower, the same applies to ETH... 😍
🤓This is like food for thought.