After two monthly successive red candles, Bitcoin price started the new month with green candle. Bitcoin price should close the month above 8-month moving average to reverse up.
Here you can see monhtly chart of Bitcoin price. We have seen 5 monhtly successive red candles on Bitcoin price chart. After these monthly red candles, Bitcoin price got 2 green monthly candles. After price correction of this two months, Bitcoin price started the month with green candle.
100-month moving average is at 40K USD level. Bitcoin price may touch this average before reversing up.
Here you can see the indicators on monthly chart of Bitcoin price. Even Bitcoin price got lots of monhtly red candles in last year, the indicators are getting closer to the bottom.
Fisher Indicator is close to the bottom and ready to reverse up. MACD Indicator may start to reverse uo from this level.
We need to see more monthly green candles on Bitcoin price chart.
We may not see monthly red candle series on Bitcoin price chart in this year. Bitcoin price may try to reverse up from this level. Indicators started to reverse up.
We will see...
Posted Using INLEO
