BTC Weekly U-Shaped Reversal Hits the 519 Historical Script!
Bitcoin's recent weekly chart has drawn a large U-shape, exactly like the reversal pattern after the 519 crash in 2023. The price has now surged to a historic new high. How are the short sellers holding up?
This large bullish weekly candle has completely engulfed the declines of the previous two weeks. The lack of favorable news regarding tariff exemptions on Friday turned out to be a good thing—negative news couldn't break the new lows, indicating that the whales are determined to push the price up.
The previous weeks saw a slow and steady rise like a bulldozer, and once the interest rate cuts are announced in the second half of the year, the main upward wave could send the price soaring. The daily chart has completely broken through the downtrend, and the MACD's bullish divergence clearly shows that the bulls are not backing down. The 83000 position is a solid support, and every small pullback is an opportunity to make money.
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