Bitcoin has bounce back from support level and can to rise
Hello traders, I want share with you my opinion about Bitcoin. When observing Bitcoin, we can see how the price, after a big fake breakout of level 27800, retested it several times, and formed an upward impulse. The price continued to rise and formed a resistance area 30800-31000, from which it began a downward movement. Over time, Bitcoin created a downward channel in which it traded for a long time. We see how the price re-tested, the resistance line of the channel, began to fall, broke through the support line and left the channel. Bitcoin continued downward move, breaking through the support level of 27800 and dropping to the level of 27190. After re-testing the support level, the price bounced and is now trading higher. Bitcoin can continue downward move, but for now, the price can make an upward correction. I think the price could go up to the current resistance level. Based on this analysis, I decided to set the targets at level 27500 and at the resistance level 27800. I will update this idea for you as soon as the market situation changes. Please share this idea with your friends and click Boost 🚀
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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.