Bitcoin can make correction to support line and then rebound up
2025-01-29
Category: None

Hello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some time ago rebounded from the support level, which coincided with the buyer zone and started to grow to the resistance level. When BTC almost reached the 106K level, it turned around and made a small correction, after which it rose to the seller zone in a short time. Then the price dropped to the buyer zone, after which made a strong impulse up to new ATH (109K points) and started to trades inside the triangle. In this pattern, the price at once made a correction movement to support line of the triangle and then repeated impulse up to the seller zone. After this movement, BTC made a correction to the support line of the triangle again and then backed up to the seller zone in a short time and even rose to the resistance line of the triangle pattern. Next, the price started to decline and later fell to the support level, exiting from the triangle pattern and also then broke the 100K level and fell below. But then BTC started to grow near the support line and soon broke the 100K level one more time and continued to move up next. Recently it made correction and then continued to grow, so, in my opinion, Bitcoin can correct to support line again. After this, I expect that the price will continue to move up the resistance level. That's why I set my TP at 105K points. Please share this idea with your friends and click Boost 🚀