Bitcoin will break support level and continue to fall to 61500
2024-10-24

By observing the chart, we can see that the price reached the support level on some days, coinciding with the buyer's area, but immediately rebounded and fell slightly. After this, the price began to rise within the upward channel, soon reaching the 59000 level and breaking through. Next, the price pulled back to the buyer's area, and then continued to rise to the channel resistance line, coinciding with the current support level, and then turned around. BTC pulled back to the 59000 level, after which it rebounded and returned to the 66300 level in a short period of time and traded nearby for a while. Soon, the price broke through this level and almost rose to the channel resistance line, but recently turned around and fell to the support level and continued to trade very close to it. In my opinion, the price can rise slightly, and then continue to fall to the support line of the upward channel, breaking through the support level. This is why I set the target price at 61500 points.