Bitcoin's Path to 109K Key Levels to Watch
2024-11-27

Hi guys,

Here’s my updated Bitcoin analysis, offering two potential scenarios: Plan A and a follow-up Plan B for a breakdown below key support level.

Plan A focuses on the potential development of an ascending broadening wedge targeting the 107k–109k zone. This scenario hinges on Bitcoin maintaining price levels above the critical 86k support.

It’s important to note that any sustained movement below 86k will immediately invalidate this plan. The primary reasoning behind this outlook is the continuation of a higher high (HH) and potential higher low (HL) structure, observed in a zig-zag price pattern.

Let me know your thoughts on this view, drop your comments, and let’s discuss!