Bitcoin Price Broke Down Mini Ascending Channel

avatar

There was mini ascending channel on Bitcoin price chart. Bitcoin price stuck into great ascending channel in this year. After breaking down this great ascending channel Bitcoin price went down quickly from 80K to 59K. After touching 59K, Bitcoin price tried to reverse up and mini ascending channel appeared on Bitcoin price chart.

Here you can see daily chart of Bitcoin price. Bitcoin price tried to go up slowly during being into this ascending channel but It broke down this mini ascending channel. After breaking down this mini ascending channel we saw daily huge red candles.

e1.PNG

Here you can see the indicators on daily chart of Bitcoin price. There was mini uptrend line on RSI Indicator and It is broken down. This is why Bitcoin price could not go up in this ascending channel. MACD Indicator is below 0 level. It may reverse down again but It is so hard to reverse down again in this level. We may see fake reverse down in this level.

Fisher Indicator is on the bottom and It may reverse up in next week.

e2.PNG

Bitcoin price may close to the bottom for short term. Lots of major indicator are at oversold level. Bitcoin price may get price correction during bearish season.

We will see..

Posted Using INLEO

hive-167922 proofofbrain neoxian palnet cent ctp bitcoin analysis vyb posh
0
0
0.000
1 comments
avatar

Congratulations @chorock! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

You received more than 290000 upvotes.
Your next target is to reach 300000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out our last posts:

Hive Power Up Day - July 1st 2026
0
0
0.000
Reply