Bitcoin can rebound down of resistance line to 48700 in channel

Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price a not long time ago breakout the 42800 support level, which coincided with the buyer zone inside the upward channel and started to trades near this level. Some time BTC fell to the buyer zone, but at once it backing up, and later price finally rebounded from the support line and continued to move up in the channel. A few moments later BTC reached 50200 current support level, which coincided with the support area, but at once made little correction, after which the price turned around and rose back to this level. Soon, Bitcoin broke the 50200 level and even later rose higher than the support area and reached the resistance line of the channel. But recently price rolled down from this line and at the moment it trades near, so in my mind, Bitcoin can rise to the resistance line and then start to decline to the support line, thereby breaking the support level. For this reason, I set my target at 48700 points, which coincided with the support line of the upward channel. Please share this idea with your friends and click Boost 🚀

Comment:

Price rebounded from the resistance line of the channel and little decline, but did not fall to the support line, so now I think BTC can decline to the support level inside of the channel.