#BTC chart to break on the downside? I know this pattern is for trend continuation and we are in short term downtrend.

But don't worry We have multiple evidences that the market is going up very soon

GERMANY OUT OF BITCOINS

The sell pressure for Bitcoin from big holders is relatively nil. The price saw a dip to $54k support which was backed really strongly by the bulls


INCREASING ETF INFLOWS

Total inflows since July 8 is close to almost 10k for BTC.
While some were selling the ETF news has kept everyone really positive.

BLACKROCK ARE BUYING MORE When such big giants are buying more there is no need to be worried. The recent purchase from #BlackRock is over 2000 Bitcoin

MARKET CYCLE HISTORY

When we speak of the bearish nature of ascending triangle, its worth noting that they can break on the other side especially when other factors are strong

The Market is yet to peak and the long term plans of holders can easily dominate short term


EXTREME FEAR IS BULLISH

When we are in a larger uptrend, the best opportunities are there in short to medium term dips where the fear is the most.

This is the area where big players come in and sell pressure is heavily reduced
BULLISH DIVERGENCE The confirmation of this event last week has been pretty useful in the short term. This signal popped up in October 2023 where #BTC finally made new high after a breakout. Something similar is possible once again



Standard Chart Patterns are there to be taken seriously but we have to understand that they can only give us an idea.

There are multiple factors which play a strong role and we should be aware about them

Follow @CryptoMelo for more

#BinanceTurns7 #BinanceTournament #Megadrop #ETH_ETFs_Approval_Predictions #US_Job_Market_Slowdown