🪙 Blue Trendline (Major Uptrend Support) — BTC Just Touched It Again
BTC has once again touched the major long-term uptrend support (blue diagonal line). This is important because:
1️⃣. This trendline represents the macro bullish structure 2️⃣.Previous touches resulted in strong upward bounces 3️⃣. As long as this line holds, the long-term uptrend remains intact
✅ Conclusion: BTC is still in a macro uptrend unless price closes decisively below the blue trendline.
Bitcoin is approaching the major long-term downtrend line (green). An inverse head & shoulders pattern is clearly forming, which is typically a bullish reversal signal.
🔍 Key Highlights:
BTC is consolidating right below the trendline. A breakout followed by a clean retest could trigger a strong upward move.
If confirmed, the next target zone sits around 103k+