Bitcoin Analysis Strategy
2025-01-29
Category: None

Looking at the chart, we can see that the price bounced off the support level some time ago, coincided with the buyer area, and began to rise to the resistance level. When BTC almost reached the 106K level, it turned around and made a small correction, and then rose to the seller area in a short time. Then the price fell to the buyer area, and then rose strongly to a new ATH (109K points) and began to trade inside the triangle. In this pattern, the price immediately corrected to the support line of the triangle, and then repeated the rise to the seller area. After this, BTC corrected the support line of the triangle again, and then fell back to the seller area in a short time, and even rose to the resistance line of the triangle pattern. Next, the price began to fall, and then fell to the support level, exited the triangle pattern, and then broke through the 100K level and fell below. But then BTC began to rise near the support line, and soon broke through the 100K level again, and continued to rise. Recently it corrected, and then continued to rise, so in my opinion, Bitcoin can correct to the support line again. After this, I expect the price to continue to rise to the resistance level. This is why I set the target price at 105K points.