Bitcoin Price Broke Down the Middle Line of Ascending Channel

Bitcoin price is in an ascedngin channel for a few months. Bitcoin price was going up slowly. After touching 200-day moving average, it reversed down from this level. The middle line of this ascending channel is the first support level after reversing down. It could not support Bitcoin price and Bitcoin price broke down this level.

Here you can see daily chart of Bitcoin price. The bottom line of this channel is waiting Bitcoin price to support. There is also great support level at 75K. Bitcoin price should be supported at 75 USD or 73K USD.

Here you can see the indicators on daily chart of Bitcoin price. Even RSI Indicator broke up great downtrend line, we could not see bulish pattern on RSI Indicator. There was mini uptrend line on RSI Indicator and It is broken down. I shared lots of analysis and said we may see another beariah wave on Bitcoin price chart. It may be started.

MACD Indicator reversed down from the top. Fisher Indicator is close to the bottom. If the bottom line of this ascending channel supports Bitcoin price, Fisher Indicator will reverse up from the bottom.

It is so possible to see supporting by the bottom line of this ascending channel. If Bitcoin price breaks down this great support, we will see another market crash.

We will see...

Posted Using INLEO