The latest Bitcoin strategy analysis
2024-12-18
Category: None

Observing the chart, we can see how the price traded in a range, reached the top and started to fall. In a short period of time, BTC almost fell to the bottom, but then it recovered and hit upwards, exiting the range and continuing to grow inside the upward wedge. In this pattern, the price quickly reached the 90500 support level, coinciding with the buyer's area, then broke through this support level, retested and continued to rise. Then BTC reached the resistance line of the wedge, then corrected the support level, immediately rebounded, and then rose to the current support level. The price tried to break through, but failed and fell to the 90500 level, immediately continued to rise and soon reached the current support level, coinciding with the seller's area. Then the price broke through the 103000 level and rose to the resistance line of the wedge, but not long ago it fell to the seller's area, and BTC is still trading in this area to this day. Therefore, in my opinion, the price may fall to the support line and then start to rise to the resistance line of the upward wedge. That's why I set the target price at 110000 points (new ATH), which coincides with the resistance line.