Bitcoin Today Analysis Strategy Signals
2024-11-18

Hello fellow traders, by observing the chart, we can see that the price is rising inside the ascending channel and soon reaches the buyer's area, coinciding with the support level. Subsequently, BTC breaks through this level and rises to the channel resistance line, but then turns around and corrects to the buyer's area. In this area, the price rebounds from the channel support line and starts to rise, so, in a short period of time, it breaks through the 68800 level again and then exits the ascending channel. Next, BTC continues to rise inside the ascending pennant, reaches the support line and rebounds higher. Subsequently, the price reaches the current support level (86600) that coincides with the support area and soon breaks through this level, and then rises to the resistance line of the pennant. Then it corrects to the support area, and then turns around and rises back to the resistance line of the pennant. Now, the price continues to trade near this line, and I think BTC can exit this pattern and will not grow anymore. After this, the price may fall back and start to fall to the 86600 support level.