Bitcoin can break support level and continue to fall in channel

5 days ago

Hello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see that the price moved into a range, where it initially surged to the seller zone, touching the upper boundary. After that, it quickly reversed and dropped to the lower part of the range, which aligned with the 93900 level, before bouncing back up. The price made another attempt to reach the seller zone, but this time it broke out of the range and started declining within a downward channel. Inside the channel, BTC initially touched the support line but struggled to gain momentum and continued to fall. Not long after, the price broke through the 93900 level, retested it, and then dropped further to the support level, which overlapped with the buyer zone. It even briefly broke this level, reaching the channel’s support line before making a sharp recovery. Following this bounce, BTC quickly reclaimed the broken support level and is currently trading near the 88100 mark. In my view, Bitcoin could rise to test the channel’s resistance line before resuming its downtrend and breaking the support level again. Based on this, I’ve set my TP at 85000 points. Please share this idea with your friends and click Boost 🚀

4 days ago

Trade active

Okay, the price will fall to the support line of the channel, but then rebound up to the buyer zone. Now it almost reached my TP. So, I expect that BTC may reach my target and then continue to fall next:

3 days ago

Trade closed: target reached

GREAT! Second TP was reached!