Lingrid | BITCOIN retest of SUPPORT zone for BULLISH Momentum
2024-11-04

The price perfectly fulfilled my last idea. It hit the target zone.  BINANCE:BTCUSDT  has recently pulled back after aggressively retesting the ATH level. The long-tailed bar on the weekly timeframe suggests that the market may form a deeper pullback, indicating that buyers are hesitating to buy at higher levels. Despite the market breaking and closing above the highs from September, August, and July on the monthly chart, which is a bullish sign, there is a possibility that the price may retest the September high at the support level of 66,000. This could provide an opportunity for buyers to step back in before a potential continuation of the upward trend. A retest of the 66,000 level would not only serve as a confirmation of support but could also attract more bullish sentiment as the market gathers strength for another push upwards. My target is resistance zone around 72,700



Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻 