There was mini downtrend line coming from after Bitcoin price touched 200-day moving average. Mini downtrend line appered on Bitcoin price chart after touching 200-day moving average. Bitcoin price went down fast after touching 200-day moving average. It went down from 80K to 58K. After It touched 58K, it was going up slowly.
Here you can see daily chart of Bitcoin price. Bitcoin price touched this mini downtrend line and reversed down. There was possible triple bottom pattern on Bitcoin price chart. Bitcoin price should not break down this triple bottom pattern. Bitcoin price shold break up this mini downtrend line.
Here you can see the indicators on daily chart of Bitcoin price. Fisher Indicator is on the top and may reverse down. There is mini uptrend line on RSI Indicator. It is too early to break down. You can see what happened after breaking down this mini uptrend line before. We may see the same scenario but it may be early.
MACD Indicator is trying to reverse up below 0 level. If not, we will see another bearish wave on Bitcoin price chart.
Bitcoin price should stay above 58K USD level. If it breaks down we will see Bitcoin price touching 40K USD where is the target of bearish flag pattern. I shared lots of analysis about this bearish flag pattern. It is the worst scenario on Bitcoin price chart.
We will see..
Posted Using INLEO
