LegionQ8

Bitcoin can start to move up and then try to exit from pennant

Long
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 price traded near the support level, which coincided with the buyer zone, and in a short time it finally broke this level. After this, BTC made a correction to the buyer zone and then made impulse up to the 41500 resistance level, and also broke it soon too. Then price started to rise inside the upward channel, where it some time declined to the resistance area, but last time price rebounded from this zone and made a strong upward impulse to the resistance line of the pennant, thereby breaking the 45900 level, which coincided with seller zone and exiting from channel too. But a not long time ago, BTC rebounded from this line and made a strong downward impulse to support line of the pennant, which is located in the resistance zone, breaking the 45900 level again. After this movement, the price tried to rise but failed and declined lower than the 41500 current resistance level, where at the moment it continues to trades near. In my mind, Bitcoin can decline to the support line and then rebound up to the resistance level, thereby exiting from the pennant. Then, I think, the price can try to break this level, and if it does this, BTC can make a retest and continue to move up. So, I set my target at the 43500 level. Please share this idea with your friends and click Boost 🚀

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