Bitcoin can make correction and then continue to grow
2024-10-16

Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price a few days ago entered to wedge, where it at once rebounded from the resistance line and dropped to the support line of this pattern. Also, the price broke the 59000 level, which coincided with the buyer zone, but later BTC turned around from the support line and in a short time rose to this level and broke it. Then it made little correction to the buyer zone, after which continued to move up to the 65300 current support level, and even entered to support area, but soon turned around and fell below, making a fake breakout. Price tried to grow, but failed and dropped to the support line of the wedge, which coincided with the 59000 level, and then made a strong impulse up to the resistance line of the wedge pattern. Also, BTC broke the 65300 level, after which made a retest inside the support area, and now the price trades near the resistance line of the wedge. So, in my opinion, the price can make correction to the support area at first and then it will rebound up, exiting from the wedge. Next, I think, it can continue to grow, therefore I set my TP at 71K points. Please share this idea with your friends and click Boost 🚀