HelenP. I After strong impulse up, BTC can start to decline

6 days ago

Hi folks today I'm prepared for you Bitcoin analytics. BTC has recently shown a strong recovery after reaching the support zone between 77000 and 76200 points. This area had already acted as a base twice in the past, and the price once again reacted from it with a sharp bullish impulse. The rise brought Bitcoin back into the resistance zone between 83500 and 84300 points - a level that has proven significant in the past. At the same time, BTC approached the descending trend line that forms the upper boundary of the wedge pattern visible on the chart. The reaction from this confluence zone was immediate. The price got rejected right at the intersection of the trend line and resistance zone, forming a clear rejection candle and showing weakness from buyers. This area is now holding Bitcoin down once again and proving itself as a strong supply zone. At the moment, BTC is trading below the trend line and under pressure from resistance. Given the recent price action, multiple rejections from the same zone, and position relative to the wedge, I expect Bitcoin to decline again toward 78000 points - my current goal. If you like my analytics you may support me with your like/comment ❤️

5 days ago

Trade active

Price almost reached my goal, but recently, it made an impulse to trend line. So, for this case, I'm still waiting when BTC to drop to 78000 points.

4 days ago

Trade closed manually

BTC grew to the resistance level, thereby exiting from wedge and even now trying to break this level. So, I close this trade because, in my opinion, BTC can break the resistance level and continue to grow.

FirstNameHelen

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FirstNameHelen

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