Bitcoin surge is a trap
2024-11-17

Recently, price entered the flatline and rejected the support area, which coincided with the $67,300 level.

BTC then traded in a support zone for a while before breaking above the $67,300 level and rising to a flat top.

Next, the price corrected towards the $67,300 level, after which it began to grow within the rising channel and exit from the flatline.

On the channel side, BTC rose to the $86,700 level, broke out, and immediately reached the resistance line in the rising channel.

But a while ago, the price reversed course and fell to the $86,700 level to exit the channel before starting to grow.

Possibly, I see little chance of BTC growing and then starting to fall towards the $85,100 support zone.