BITCOIN ANALYSIS

➡️ We've analyzed two key charts—the Daily and the Weekly. On the Daily chart, Bitcoin is forming a bullish W pattern and is on the verge of a breakout. Meanwhile, the Weekly chart shows Bitcoin nearing a crucial resistance level.

➡️ Today marks an important weekly close, and it’s critical for Bitcoin to break through this resistance and open the new week above it. If this happens, the W pattern will also break its resistance, potentially leading to a major rally.

➡️ However, if Bitcoin fails to break the weekly resistance and opens below it, we could see a correction in both Bitcoin and the broader crypto market, causing the W pattern to fail.

➡️ The key resistance zone right now is between $63,500 and $64,000. This is why we’ve seen bulls pushing Bitcoin up while bears fight to keep it down. The price action has been volatile, with quick sentiment changes. Because of this, we've had to open and close several trades quickly, so it’s wise to trade with low leverage and manage your risk carefully.

➡️ This weekly candle close is crucial. If Bitcoin breaks through, we could see a shift from bearish to bullish sentiment, potentially kicking off a highly bullish quarter for the crypto market.

➡️ To summarize: Watch the Weekly close, the W pattern, CZ’s recent news, the U.S. election, and the start of a bullish quarter. The next few days could set the stage for an explosive Bitcoin rally. 💸✈️$BTC