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BlackRock Bitcoin ETF Is Forming An Intraday Bullish Setup

If we take a look at the hourly chart of BlackRock Bitcoin ETF with ticker IBIT, we can see nice and clean five-wave intraday rally from the lows, followed by an a-b-c corrective setback with first support at 32 area, while second deeper one would be around 31 area. So, seems like it's forming a nice intraday bullish setup formation, thus watch out on a bullish continuation, while it's above 28 invalidation level, just keep in mind that bulls may step in above 34.15 level.

Good morning! BlackRock Bitcoin ETF – IBIT is now trying to continue higher following stock market after we spotted an intraday bullish setup formation. Is Bitcoin poised for more gains?

As expected, BlackRock's Bitcoin ETF – IBIT is resuming its intraday recovery as expected and there can be room for more upside within a new five-wave bullish cycle, so as long as it's above 34 level, we can expect a bullish continuation.