#BITCOIN BULL RUN CONTINUES ⟶ 2 POTENTIAL GROWTH PATTERNS!!
2024-09-20

💎#Bitcoin Analysis
⏱Based on the daily timeframe:

📌#Bitcoin is currently within an bullish channel on the 4-hour timeframe (see the green channel in the figure).

✅🚀As long as it remains within this channel, the strong bull-trend will continue.
This means that any dips will be limited to the mid-line and bottom of this channel.

🎯And the growth towards the next targets:
🚀Target 1: 66755.85
🚀🚀Target 2: The diagonal line drawn from the two previous highs (see the figure)
🚀🚀🚀Target 3: 74537.70

🔻🤏However, if the aforementioned bullish channel is broken, we will enter a temporary bearish phase (the bull-trend is maintained) and return to the support zone of 57877.90-58116.32 (although this zone is better covered by two red diagonal lines in the figure)

📈📉This zone will cause #Bitcoin to form a bottom and start growing based on the return triangle pattern (the potential growth structures of #Bitcoin are schematically shown on the left side of the chart).

❌Stop-loss for the growth scenario and entering a deep bearish phase: If the red zone is broken downwards in D timeframe, the trend will change from bullish to bearish, and we will witness a deep decline in #Bitcoin.
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💎1-Hour Timeframe Bitcoin Analysis 

🚀Based on the above (main) analysis, as long as we are within the 4-hour timeframe bullish channel, there is a chance of very short-term dips and subsequent resumption of growth

🌟Within this channel, there are 3 important support levels for price reversal:

✅ First support: #Bitcoin's daily support at the price of 62781.58 (15-minute timeframe pivot), if there is a positive reaction from this support, the market can grow in the form of a head and shoulders or rectangle pattern (the condition for growth in this case is the breakdown of the resistance of each of these two structures. The schematic of the structure is in the figure)

✅ Second support: Mid-line of the bullish channel

✅ Third support: Bottom of the bullish channel

‼️The second and third supports have a good alignment with lower timeframe supports, which are not drawn in the figure
