Bitcoin analysis strategy,
2024-12-30
Category: None

Looking at the chart, we can see how the price started trading inside the pennant and bounced off the support line and almost rose to the support level, which coincides with the buyer's area. In the pennant pattern, BTC started to rise inside the ascending channel, breaking through the 92600 level, and then rose to the channel resistance line, after which it corrected. Next, the price continued to rise, and then rose to the resistance level, coinciding with the seller's area, and then corrected to the buyer's area. After that, the price continued to rise inside the channel, and soon reached the 103000 resistance level and broke through it. Next, BTC reached the channel resistance line, coincided with the pennant resistance line, and moved strongly downward to the pennant support line, exiting the channel and breaking through the resistance level. After this movement, the price started to pick up and started to rise near the pennant support line, and now I think BTC can exit the pennant and fall to the support level. Then it will pick up and start to rise to the 103000 resistance level, which is my target price.