Even Bitcoin price chart seems at the end of bullish trend, the possible possitive news of ETF is the support for Bitcoin price.. Bitcoin price chart seems both bullish and bearish. Two scenarios are possible..
I shared lots of analysis and said I was waiting for the beginning of downtrend at the beginning of 2024.. I had lots of reasons for this price prediction..
This is the bullish scenario for Bitcoin price. Here you can see daily chart of Bitcoin.. There is downtrend line in RSI Indicator. MACD Indicator may reverse. Fisher Indicator may also reverse.. So, RSI Indicator may be broken up in a few days. If it is broken up, we may see huge green candle on daily chart of Bitcoin price... This is bullish scenario. ETF new may be trigger for this scenario. We should wait these news..
Even it seem bullish in daily chart of Bitcoin. This bullish move may not conitnue for weeks. Here you can see weekly chart of Bitcoin and Fisher Indicator is on the top! It is at the reversing level. We should see the reversing of Fisher Indicator!
MACD Indicator seems also before of reversing. That is why I am bearish for Bitcoin price. Even there are bearish signals, I shared bullish scenario above..
If we see bullish move in January, this trend may continue for short time. We may see price correction. There is no price correction on Bitcoin price chart since 25K..
We will see..
Posted Using InLeo Alpha
