Bitcoin can make small correction and then continue to grow
2024-10-06

Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to upward channel, where it soon reached the resistance level, which coincided with the seller zone, but at once bounced and made a correction to the support line of the channel. Next, the price continued to move up and finally broke the 64900 level, and later reached the channel's resistance line again. But then BTC turned around and started to decline, so, soon, the price broke the resistance level one more time and exited from the upward channel. After this, the price continued to fall inside the downward pennant, where it first fell to the support level, which coincided with the buyer zone. When BTC fell to this level, it at once broke it, some time traded near the buyer zone, and then declined to support line of the pennant. Next, it turned around and rose higher than the 61200 level in a short time, breaking it again, and soon reaching the resistance line of the pennant. A not long time ago, BTC exited from pennant and now it continues to grow. For this case, I think that the price can make a small movement down and then continue to grow to the resistance level. That's why I set my TP at the 64900 level. Please share this idea with your friends and click Boost 🚀