Bitcoin analysis strategy ideas
2024-12-01

Observing the chart, we can see that the price started to rise within the support line near the pennant, and then reached the 93500 support level, which coincides with the support area. Soon, the price broke through this level and continued to rise to the resistance level, which coincided with the seller area and even entered this area, and then reached the resistance line of the pennant. Then BTC turned around and fell to the support line, and then exited the pennant pattern, and then fell slightly, and then rose to the 98500 level. BTC tried to break through this level, but failed, and first fell to the support level, and soon broke through this level, and then fell to 90785 points. Then Bitcoin turned around and rose to the 93500 support level, broke through this level, and then rose to the resistance level. After that, the price turned around and fell and corrected to the support line of the triangle, but soon it turned around and started to rise. Therefore, in my opinion, the price may fall to the support line and then continue to rise to the resistance level. When the price reaches this level, it may break through this level, thus exiting the triangle, and then continue to the next step, first retesting or not retesting. For this case, I set two TPs: the first at 98500 level and the second at 100500 points.