ZulGang BTC Updates

The price also printed two new bullish patterns on the 4-hour timeframe:

1 - The price formed a bullish pennant with a target of 82,700.

2 - It also formed a new inverse head and shoulders on a larger scale, with a target pointing towards the 91,785 area.

Later today, we have two high-impact news events that may act as catalysts for a move towards these targets: the Non-farm Employment Change and the ISM Services PMI.

I expect the momentum to stop once it reaches the 82,700 target and then start to reaccumulate before the next parabolic move towards the 91,785 target or even explode towards

We finally have a valid 4-hour candle closing, accompanied by a daily candle closing above the target.

The price failed to maintain momentum, as I mentioned in an earlier post, and it has fallen towards the 66,750 area twice to test the support, while keeping the 69,100 level as the baseline, also known as the max pain level.

Currently, the price is trying to absorb the supply. If the bulls manage to hold this area until the next candle closes, we can expect bullish momentum to come in.

https://www.tradingview.com/x/YCVJk20U/

TradingView

COINBASE:BTCUSD Chart Image by zg_369

We have the reaction we were waiting for with a valid violation of the controlling supply on the 15-minute timeframe.

We need the next 4-hour candles to close at least above 70,250 to remain bullish, or ideally above 71,465. Waiting for the Asian whales to wake up.

https://www.tradingview.com/x/V4xREAyP/

TradingView

COINBASE:BTCUSD Chart Image by zg369

I think now is the right time to reveal this one.

A cup and handle pattern has formed on the daily chart (I'm using the 3-day timeframe below for a clearer view). The price target for this pattern is an impressive 360%, which suggests the next all-time high could be around $340,000 IF the price breaks out from the neckline in the next few days.

Keep in mind that we don't have any confirmation of the flag pattern's breakout just yet. I will update the price target once we break out from the neckline.

https://www.tradingview.com/x/Y6zAU6WC/

TradingView

COINBASE:BTCUSD Chart Image by zg3

The price is reacting on a 15-minutes demand zone and currently trying to breach the controlling supply.

https://www.tradingview.com/x/6AUSqPr4/

TradingView

COINBASE:BTCUSD Chart Image by zg369

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