Bitcoin can continue to decline in downward channel

Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price not long ago entered to wedge, where it first rebounded from the resistance line and quickly declined to the support line, breaking the 64900 level, which coincided with the buyer zone. After this, BTC bounced from the support line of the wedge and made a strong upward impulse higher than the 64900 level, breaking it again, and then the price continued to move up in the wedge. But later, it made a correction to the support line, after which BTC turned around and rebounded up to the resistance level, which coincided with the seller zone. Soon, the price broke the 71600 level and some time traded in the seller zone, after which the price rose almost to the resistance line and turned around. After this, BTC started to decline in a downward channel, thereby exiting from the wedge and also soon broke the 71600 resistance level. In the channel, the price declined to the support level, but recently it rebounded and rose to the resistance line of the channel, and at once rolled down. So, in my opinion, Bitcoin can continue to decline in a downward channel, therefore I set my target at the 64900 support level. Please share this idea with your friends and click Boost 🚀

Note

BTC yet declined to the support level, and even lower, thereby breaking this level, so now I think that Bitcoin can decline to the support line of the channel and then turn around and start to move up, we'll see

LegionQ8

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LegionQ8

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