Bitcoin can turn back to the seller zone from the support line
2025-01-22
Category: None

Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago reached a resistance level, which coincided with the seller zone, and then dropped to the support level, which coincided with the buyer zone, and then started to trades in the range. In range, BTC at once rebounded from the support level and tried to grow, but failed and fell back. After this, the price bounced up and then turned around and declined to the buyer zone, after which started to grow. A short time later, Bitcoin rose to the top part of the range and then dropped to the buyer zone back, making a fake breakout of the support level, and then turning back to the range. Price sometimes traded near the 93200 level and later broke it, exiting from the range also and falling to 90800 points. Then BTC made a strong impulse up from this point and rose to almost resistance level, which coincided with the seller zone, after which corrected to the support line. Then BTC rebounded up from this line and rose to the seller zone, reaching a new ATH (109K), and soon fell back to the support line. But recently price bounced from this line and started to grow. So, for this case, I think that BTC can fall to the support line and then rebound up to the seller zone, breaking the resistance level. That's why I set my TP at 109500 points. Please share this idea with your friends and click Boost 🚀