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I just noticed something interesting in BTC ๐ The price is hovering around $77.3K and it seems that the bulls are holding the 200 MA on the 1-hour chart as a line of defense. What catches my attention is that we are forming a fairly clear pink cup pattern on the broader chart.
If this movement continues as expected, the pink cup pattern could take us toward $79,448 ( without promises, just based on what I see in the analysis ). We are still in the early stages of the breakout, so we need to watch how it develops.
This pink cup formation has me quite alert. The support at the 200 MA is key for now. If it holds, things could look interesting in the upcoming moves.
NFA, do your own research. #Crypto # Trading #BTC