BtcUsd is strong buy?

Bitcoin (BTC) exhibits a strong buy signal based on the following technical analysis and market indicators:

1. Long-Term Trend Analysis: Bitcoin is in a rising trend channel in the long term, indicating increasing optimism among investors. This is supported by the fact that investors are paying higher prices over time to buy Bitcoin, which is a sign of a strong investment interest and bullish sentiment.
2. Recent Price Movement: Despite a recent dip, Bitcoin's price has broken out new all-time highs, extending its secular uptrend with implications for the coming months. The price has also been steady after breaking free from a consolidation zone, suggesting a strong upward movement.
3. Technical Score and Rankings: Bitcoin receives a strong long-term technical score of 87 from InvestorsObserver's research, ranking it superior to 87% of cryptocurrencies. This score is based on historical trading patterns, support and resistance levels, and its position relative to long-term averages.
4. Market Sentiment and Volume: The Coinbase Premium, a leading indicator that measures BTC spreads on Coinbase and other cryptocurrency exchanges, displays a potentially optimistic movement for the price of Bitcoin in the near term. This is supported by the fact that institutional investors in the US are buying crypto assets heavily, indicating high demand and bullish sentiment.
5. Election-Related Analysis: Although the upcoming U.S. presidential election may influence Bitcoin's short-term movements, the overall long-term trend is expected to continue upward. This is because historical election effects on Bitcoin price are temporary and do not change the overall trend.
6. Support and Resistance Levels: Key support levels for Bitcoin are around $51,500, which is defined by a 38.2% Fibonacci retracement of the uptrend off the 2022 low and bolstered by a rising 200-day moving average. Resistance levels are near $69,000 and $70,000, which have been challenging to break but are expected to be overcome.
7. Moving Averages: The 5-day, 10-day, and 50-day moving averages are currently not available, but the overall trend is bullish across most moving averages, with exponential and simple moving averages from the 10-day to the 200-day marking strong bullish signals.

In conclusion, the technical analysis and market indicators suggest that Bitcoin is a strong buy, with a clear upward trend and strong support from institutional and retail investors. The recent breakthrough of new all-time highs and the overall bullish sentiment in the market are strong indicators of its potential for continued growth.