Hello traders, I want share with you my opinion about Bitcoin. On the chart, we can see that the price entered a downward triangle, where it rebounded from the resistance line and dropped to the resistance level. After that, BTC bounced from the 86500 level, climbed back to the resistance line of the triangle, and then started to decline. Soon, it broke through 86,500 and reached the support level, which coincided with the buyer zone. BTC then broke this support and dropped further to the support line of the triangle before reversing and beginning to rise. In a short time, the price reached 81100, broke through it, and made a retest before continuing its upward movement. However, it later corrected back to the buyer zone, then climbed to 85000, and started declining again. Shortly after, the price dropped to the support level and then rebounded to the resistance line of the triangle. Given this price action, I expect BTC to correct toward the support line of the triangle before bouncing back up and breaking out of the pattern. From there, I anticipate further growth toward the 86500 resistance level, which is why I have set my TP at this level. Please share this idea with your friends and click Boost 🚀
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Great, price reached resistance level, exiting from triangle. So, I expect that it can make small correction and then continue to move up, breaking the resistance level.Trade closed manually
First TP was reached, but then BTC started to decline.
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🔷Join my telegram channel for free - bit.ly/4g4wovR
💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.