LegionQ8

Bitcoin can rebound up from support line to resistance level

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some days ago rose in an upward channel, where it reached the 37700 support level, which coincided with the buyer zone, but firstly it rolled down to the support line of the channel. After this, BTC bounced up to the 37700 level, broke it, and later made a retest to this level. Next, the price entered a triangle, where it rebounded from the support line, which coincided with the support level and made an upward impulse to the resistance level, thereby exiting from the channel. When, BTC reached the 44300 resistance level, which is located in the seller zone, the price at once rebounded and made a correction to support line of the triangle. Then price tried to rise back, but after which Bitcoin reached the seller zone, the price declined back to the support line of the triangle, where it continues to trades near to this day. In my mind, Bitcoin can fall to this line, making a correction again, and then price rebound up to the resistance level. So, this is why I set my target at the 44300 level. Please share this idea with your friends and click Boost 🚀

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