Bitcoin will soon resume its growth along the parallel channel?

[MrSpasybo]

Wow, I didn't even noticed this one. This might be another analysis that adds probability to the price to continue to go up. However, my analysis is different from you, I usually focus on market structure through BOS and ChoCh. BOS is determined that price action is trending whether down trend or up trend, but if ChoCh the price is going for reversal. I also applied indicator in it to support my analysis. But the most important here is that we the same thoughts where the price will go, it gives me confidence that my analysis will going to materialize.

Well, I hope you can share some screenshots to illustrate the signals from BOS and ChoCh. That would definitely be an interesting perspective for our discussion. I'm always interested in the market analysis of AltcoinsTalks members.

For now, luckily, BTC price has actually increased and my prediction is still temporarily reasonable. I hope that the market won't surprise us with a sudden drop and break the current uptrend right after the FED cuts interest rates in September.

[Captain Corporate]

It was a good call, even had the potential risks involved, but thankfully that did not happen and we are doing fine right now, reaching around 65k at the very top, which is a huge relief for all of us because we really expected it to go up. To be fair its not there anymore, that's the 24 hourly peak, but at the same time it shows whats possible and what we achieved. I am guessing that its having a little trouble, look at the chart you will see that its not a direct go upwards movement, even at upwards movements there are some small downwards here and there, it must be that, we will see this continue to go higher for a while longer.

[MrSpasybo]

It was a good call, even had the potential risks involved, but thankfully that did not happen and we are doing fine right now, reaching around 65k at the very top, which is a huge relief for all of us because we really expected it to go up. To be fair its not there anymore, that's the 24 hourly peak, but at the same time it shows whats possible and what we achieved. I am guessing that its having a little trouble, look at the chart you will see that its not a direct go upwards movement, even at upwards movements there are some small downwards here and there, it must be that, we will see this continue to go higher for a while longer.

It's good that BTC has recovered instead of continuing to decline and breaking the uptrend channel. According to the description of the oscillation, we are still only in the reaccumulation zone and can only witness a strong price increase in Q4 2024 and Q1 2025. Events related to the FED and the election could be the drivers for this growth, we'll follow together.

I don't consider this a trading call, as I'm not good at making instant decisions related to trading. I'm just sharing my perspective and viewpoint based on technical analysis. Hope that it will be useful to someone on AltcoinsTalks, if they make a profit and want to share, I'm willing to accept even just 1 USDT ^^