Bitcoin Bullish Patterns and Key Growth Targets
Bitcoin on the 15-minute timeframe is showing a bullish outlook despite recent volatility. After a sharp decline followed by a slow recovery within a bullish channel, Bitcoin broke below this channel, triggering a sell signal. However, it quickly reversed, neutralizing the sell signal and continued to grow, currently trading above its daily support at $59,047.69.
The bullish scenario is supported by two potential patterns:
1.PlanGrowth driven by a cup pattern, confirmed by the breakdown of a 5-minute bearish channel, which has already occurred, signaling a buy.
2.Pla If Plan 1 fails, Bitcoin might find support around $59,047.69 and begin growth based on an ascending triangle pattern.
The growth targets for Bitcoin are $60,220.56, $61,416.73, and $62,335.77-$62,731.31. The stop-loss for this bullish scenario is a breakdown below the daily support of $59,047.69 on the 15-minute timeframe, which would indicate a new bearish phase.
$BTC #BNBChainMemecoins #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021