Bitcoin can rebound up from support line to 71000 level

29 Mei

Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price traded near the resistance level, which coincided with the seller zone and resistance line, after which rebounded down to the support level. When BTC fell to the 60200 level, it turned around and rose to the resistance line, but after the price reached this line, it rebounded and declined lower than the support level, which coincided with the buyer zone. But then the price entered an upward pennant and made an impulse from the support line, breaking the support level again and the resistance line. After this movement, BTC corrected move to support line of pennant, after which continued to grow. In a short time, Bitcoin reached a resistance level and even entered the seller zone, where it reached the resistance line of a pennant. But a not long time ago BTC turned around and declined lower than the 71000 level, breaking it again, after which in a short time rose to the resistance line of the pennant. Also, the price rebounded and started to decline, so, in my opinion, Bitcoin can decline to the support line and then rebound up to the resistance level, thereby exiting from the pennant pattern. Therefore I set my target at the 71000 resistance level. Please share this idea with your friends and click Boost 🚀