Bitcoin bullish target 65500
2024-09-22

By observing the chart, we can see that the price was trading in a range, and it immediately bounced from the buyer's area to the bottom. After that, it turned around and rose, trading between the 58000 level for a while. Soon, the price broke through this level, thus exiting the range, and then entered the wedge, where it turned around from the resistance line and began to fall. In a short period of time, BTC fell to the buyer's area, where it reached the support line of the wedge. Then, the price started to rise from this line and rise from the buyer's area, but later it corrected the support line, and then turned around and continued to rise. Later, BTC reached the current support level of 62600, which coincided with the support area and broke through this level. Next, the price reached the resistance line of the wedge and then bounced back down. Not long ago, Bitcoin exited the wedge and is now trading in the support area. In my opinion, BTC may fall to the support area and then start to rise. Therefore, I set the target price at 65500 points.