Bitcoin can make a small correction and then rebound up to 27400

15. Okt. 2023

Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago started to decline inside the downward channel, where it declined until to 26400 support level, which coincided with the buyer zone. In a short time price broke this level, exited from the channel, and entered to upward pennant, which rebounded from the support line and made a strong upward impulse to the 28000 resistance level, which coincided with the seller zone, thereby breaking the 26400 level. Also soon, BTC broke the 28000 resistance level and rose to the resistance line of the pennant, but at once rebounded and made a correction below this level, making a fake breakout. After this movement, the price rose back to the resistance level and some time traded very close, and later Bitcoin bounced down to the support line of the pennant. A not long time ago, it broke this line, thereby exiting from the pennant and declining lower. Also, the price started to rise and now I think that Bitcoin can make a small correction, after which it can rebound up. For this case, I set up my target at the 27400 level. Please share this idea with your friends and click Boost 🚀