There was possible bullish flag pattern on Bitcoin price chart. I shared a few analysis about this possible bullish flag pattern. I said market maker always makes fake moves. He showed us possible bullish flag pattern but we should be careful and It happened. Bitcoin price broke down this bullish flag pattern.
Here you can see daily chart of Bitcoin price. Bitcoin price went up fast from 60K to 80K. After going up fast, Bitcoin price should have price correction. But there was bullish flag pattern. The bottom of this pattern can not support Bitcoin price and Bitcoin price broke down this bullish flag pattern.
Bitcoin price closed the day below 8-day moving average after breking down this bullish pattern. It is important for short term trend.
Here you can see the indicators on daily chart of Bitcoin price. Fisher Indicator reversed down from the top. MACD Indicator is close to reverse down from the top. RSI Indicator is still in overbought zone.
We may see price correction on Bitcoin price chart. 200-day moving average may be the first major support level on Bitcoin price chart.
It was one of the fastest price pump on Bitcoin price chart while It was going up from 60K to 80K. We may see price correction.
We will see..
Posted Using INLEO
