Bitcoin Price Broke Down Upward Wedge Pattern

Bitcoin price broke down upwards wedge pattern. There was possible bearish flag on Bitcoin price chart. The bottom line of this level supported Bitcoin price a few times. Even Bitcoin price went up to 95K, It reversed down after touching the top line of upward wedge pattern. It was only a bullish trap.

Here you can see daily chart of Bitcoin price. Yesterday Bitcoin price broke down great support line. Bearish flag appeared on Bitcoin price chart. The target of this pattern is to touch 40K. We may be only at the beginning. Volatility is increasing. We may see market crash.

Here you can see the indicators on daily chart of Bitcoin price. There was great resistances on major indicators. This is why Bitcoin price can not go up. After touching downtrend line on RSI Indicator, you can see what happened. There was great downtrend line on MACD Indicator.

I shared the possiblity of future Bitcoin price move. There was 95% possibility to break down. It happened. We are waiting for the price target of bearish flag pattern.

We may see huge price drops on Bitcoin price chart and crypto market. Bad days may come. We should be careful. Crypto dream may end.

We will see..

Posted Using INLEO