There was great downtrend line on Bitcoin price chart coming from all time high. Bitcoin price broke up this great downtrend line while it was going up 80K USD. Bitcoin price reversed down from 200-day moving average. I shared lots of analysis and pointed 200-day moving average as possible great resistance and It worked as great resistance.
Here you can see daily chart of Bitcoin price. After reversing down from 200-day moving average, Bitcoin price went down fast and broke down great support lines. After breakign down these great support levels, Bitcoin price touched great downtrend line again to retest this line. It worked as a support and Bitcoin price supported by this downtrend line as a support.
Here you can see the indicators on daily chart of Bitcoin price. There appeared possible bearish flag pattern on this chart. If it works, we will see Bitcoin price reaching 50K. Downtrend line on Bitcoin price chart may support the price again Even Bitcoin price goes down.
There was downtrend line on RSI Indicator. It is close to breaking up. MACD Indicator is on the bottom. It is trying to reverse up. There was downtrend line on Fisher Indicator. It is broken up.
We may see mini bullish trend on Bitcoin price chart. Even we see mini bullish trend, Bitcoin price may go down as bearish flag pattern.
If it happens, we may see the right shoulder of possible head and shoulders pattern.
We will see..
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