This chart shows how the price rebounded from the current support level and then turned around and rebounded up.
Price broke the 109000 level, coinciding with a support area, and then traded near this level for some time.
Later price turned around and started to decline inside a downward channel, where it soon broke the 109000 level, reached the resistance line, and continued to fall next.
Bitcoin fell to the support line of the channel, which coincided with the 103000 support level and buyer zone, after which it rebounded up.
Then BTC exited from channel and later entered to upward wedge, where it at once made a correction movement from the resistance line to the support line, breaking the 103000 level.
But soon, price made an impulse up, breaking the support level one more time. Next, it rose to the current support level, broke it too, and now trades inside the support area.
In my mind, BTC can rebound from the support level and rise to the resistance line of the wedge.
Then it can break this line, thereby exiting from the wedge and continuing to move up; therefore, I set my TP at 112000 points.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
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