LegionQ8

Bitcoin can reach resistance level and then rebound down

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago rebounded from the support line and made a strong upward impulse to the support level, which coincided with the buyer zone. After this, BTC in a short time broke the 60800 level, made a retest, and continued to move up to the resistance level, which coincided with the seller zone. Price even entered to seller zone, but soon turned around and declined lower the 71250 level, making a fake breakout. Also then price started to trades in the range, where firstly it broke support line and fell to the support level. Then Bitcoin rebounded from the 60800 support level and made impulse up to the seller zone, but when it reached this area, the price at once exited, making a fake breakout of the resistance level. Next, the price some time traded near the resistance level and then declined below, but a not long time ago BTC turned around and started to grow, so now it trades near the 71250 level. Now, I think that Bitcoin can reach a resistance level and then rebound down. For this case, I set my 1st Take Profit at the 65000 level. Please share this idea with your friends and click Boost 🚀

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