Bitcoin (BTCUSD) broke today forcefully above the 1D MA50 (blue trend-line) and marginally broke above the top (Lower Highs trend-line) of the Triangle pattern since July.
With buying pressure coming aggressively after the 2nd rebound on the 1W MA50 (red trend-line) in just 1 month, if a 1D candle closes above the Lower Highs, we will have a strong break-out buy signal for the rest of the year at least.
In that case, we see the emergence of a Channel Up similar to the one that preceded March 2024, as a real possibility to test the 6-month Resistance Zone before the U.S. elections, then technical pull-back going into the event and then resuming the uptrend for the rest of the year.
The Target can be at least the 2.0 Fibonacci extension level at $90000.
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