Bitcoin Price is Close to Break Down Parabolic Uptrend Line

Bitcoin price is trying to go up during WW3. Lots of stock markets are in market crash. Gold price is in market crash. Bitcoin price is trying to be solid during WW3. It may be only waiting for the best time to drop. Market market may want to make a bullish trap.

Here you can see daily chart of Bitcoin price. Here is parabolis uptrend line which is supporting Bitcoin price. Bitcoin price is in an ascending channel for a few weeks. It can not break up the middle line of this ascending channel. There is parabolic uptrend line on Bitcoin price chart as before. You can see what happened after breaking down this uptrend line. We may see the same scenario on Bitcoin price chart. I shared lots of analysis and said I was waiting for price dump on Bitcoin price chart until end of this month. We are close to this date.

Here you can see the indicators on weekly chart of Bitcoin price. There is great downtrend line on RSI Indicator. It will resist Bitcoin price during this year. It is only a dream for waiting bullish season in this year. Bitcoin price entered mega bearish season. RSI Indicator can show us this trend.

MACD Indicator is at all time low level and trying to reverse up. Even it reverses up we may not see bullish trend. It may be only a fake move on MACD Indicator. Bitcoin price got 2
weekly green candles after weekly red candles series. Weekly red candles series may continue..

So, we should wait for possible price drop on Bitcoin price chart. We may see Bitcoin price touching 40K USD level.

We will see..

Posted Using INLEO