Bitcoin surge is a trap
Recently, price entered the flatline and rejected the support area, which coincided with the $67,300 level.
BTC then traded in a support zone for a while before breaking above the $67,300 level and rising to a flat top.
Next, the price corrected towards the $67,300 level, after which it began to grow within the rising channel and exit from the flatline.
On the channel side, BTC rose to the $86,700 level, broke out, and immediately reached the resistance line in the rising channel.
But a while ago, the price reversed course and fell to the $86,700 level to exit the channel before starting to grow.
Possibly, I see little chance of BTC growing and then starting to fall towards the $85,100 support zone.
BTC then traded in a support zone for a while before breaking above the $67,300 level and rising to a flat top.
Next, the price corrected towards the $67,300 level, after which it began to grow within the rising channel and exit from the flatline.
On the channel side, BTC rose to the $86,700 level, broke out, and immediately reached the resistance line in the rising channel.
But a while ago, the price reversed course and fell to the $86,700 level to exit the channel before starting to grow.
Possibly, I see little chance of BTC growing and then starting to fall towards the $85,100 support zone.
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