Bitcoin can drop to support level, exiting from pennant
Updated
Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago rose in an upward channel, where it reached the support level, which coincided with the buyer zone and soon broke this level. Then BTC made a retest and at once rebounded up until to resistance line of the channel, which coincided with the resistance level with the seller zone. After this movement, the price made a little correction, after which broke the 65600 level, and some time traded near, and even made a fake breakout. Next, the price rose to 70000 points and started to decline inside the downward pennant, where it soon broke the resistance level, thereby exiting from the upward channel also. After this, BTC dropped until to support line of the pennant, breaking the 57100 level, but at once turned around and in a short time rose higher this level, breaking it one more time and reaching the resistance line of the pennant pattern. At the moment, the price trades near this line and I think Bitcoin can make movement up, thereby exiting from the pennant and then will fall to the 57100 support level, therefore I set my TP for this level. Please share this idea with your friends and click Boost 🚀
Trade active
Nice! BTC almost fell to the support level, so, I still waiting when it fall to this level and I also think BTC can break the support level and continue to declineTrade active
I still waiting, when BTC falls to support level, breaks it, and continues to decline, or firstly it makes a retest, after breakout and then continues to fall to 52K:
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