Bitcoin can grow to 63K points exiting a pennant pattern
Updated
Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago started to grow inside the upward channel, where it in a short time rose to a resistance level, which coincided with the seller zone. Soon, BTC broke this level and rose to the resistance line of the channel, thereby later exiting from it and then turning around and starting to decline inside the pennant. In this pattern, BTC at once fell to the 61000 level, broke it again, and later continued to decline next to the support level, which coincided with the buyer zone. Later, the price broke this level and fell to the support line of the pennant pattern, after which at once started to move up and soon broke the 56100 level one more time. Next, the price continued to grow and reached the resistance line of the pennant, but recently it rolled down a little below and now trades near this line. So, in my opinion, BTC can correct to support line of pennant and then start to grow to a resistance level, thereby leaving this pattern. When the price reaches the 61000 level, it can break it and then continue to move up. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
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Bitcoin fell to support line of pennant, like I said yesterday, and even continues to trades very close to this line. So, I expect that BTC will rebound up to my TP, thereby leaving a pennant pattern and breaking the resistance level.
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