Bitcoin price trend analysis: struggle and rebound in the downward channel!
Recently, the price trend of Bitcoin has caught my attention. At first, the price of Bitcoin rose slowly in a triangle-like area, but soon encountered a difficulty in rising, that is, an area with strong seller power.
After breaking through this difficulty, the price of Bitcoin continued to rise, testing the upper boundary of the triangle, but then fell back. Soon, the price of Bitcoin fell below the lower boundary of the triangle, even below the price of 101,900, but soon recovered.
After that, the price attempted to rise again, reaching a high of 106,500, but soon fell back into the more active area of buyers and further declined, breaking through the previous resistance level again. Shortly after, the price of Bitcoin rebounded strongly near the resistance level but then began to fall within a downward channel.
In this downward channel, the price fell to the buyer area and attempted to rebound but failed, quickly returning to the support level near this area. Although there was a rebound that touched the resistance line of the channel, a downward correction ultimately occurred.
Currently, I believe the price of Bitcoin is still within this downward channel, with an overall trend leaning towards decline #btc70k #加密市场回调 #Infini遭攻击 #ETH走势分析 Trade at your own risk 👍
Best regards, trading cryptocurrency
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