Hello All. Despite the drop and the bearish market sentiment, let us look at this bullish scenario for BTCUSD pair.

Looking at btcusd on the weekly timeframe , we can see that bitcoin is inside a major ascending channel / rising channel .

The rising channel with an upward movement is a bullish pattern and has a potential target at $73,000. This is a 100% potential long without leverage trading.

Another bullish sign is the weekly 200 EMA indicating that the current price trading above the EMA .

Also the weekly stochastic RSI is showing a reading below 20, meaning oversold: thus also a bullish sign.

Thanks for reading, and stay tuned. Enjoy.