Bitcoin can leave pennant and then rise to resistance level
2024-12-25
Category: None

Hello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price entered to upward channel, where it soon reached the 94500 support level and then broke it. Next, the price made a retest and then tried to grow more, but later turned around and made a correction below a support level, after which in a short time, it backed up. Then BTC some time traded near the support level and later rose to the seller zone, where it at once turned around and rebounded down until to 90500 points. But soon, BTC backed up to the channel and then started to grow to a 103000 resistance level. When it reached this level, the price broke it and soon reached the resistance line of the channel, then it exited and rose to 108300 points, after which turned around and made a downward impulse inside the downward pennant. In this pattern, the price broke 103000 with 94500 levels and reached the support line of the pennant, which is located inside the buyer zone. Then price bounced up from this area and a not long time ago fell back and then rose to the resistance line of the pennant. Now, the price continues to trades near this line and I expect that the price can little decline below the resistance line. Then it started to grow to 103000 resistance level, thereby exiting from the pennant. For this case, I set my TP at this level. Please share this idea with your friends and click Boost 🚀