LegionQ8

Bitcoin can grow from support area to resistance line of wedge

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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 started to trades in the range, where firstly it declined to the support level, which coincided with the buyer zone and bottom part of the range. After this, the price rebounded up and rose to 48950 points, but then it turned around and started to decline. As well, the price entered to upward wedge, where it fell to the support line, thereby exiting from the range and breaking the 41700 level, but soon BTC turned around and started to move up. Soon, the price broke the 41700 level and later made little correction to the support line of the wedge, after which Bitcoin made a strong upward impulse to the resistance line, breaking the current support level, which coincided with the support area. But a not long time ago it rebounded and now the price trades near the support level in the support area inside the wedge. In my mind, BTC can decline to the support level and then rebound up to the resistance line of the wedge. For this reason, I set my target at the 54000 level, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀

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