Bitcoin Price is Getting Ready to Reverse Down

Bitcoin price is in an ascending channel since 60K. It is going up slowly while being in this channel. There was downtrend line coming from all time high, Bitcoin price broke up this resistance. Even it broke up this resistance, Bitcoin price is going up slowly. It may be a bullish trap.

Here you can see daily chart of Bitcoin price. There is mini uptrend line on Bitcoin price chart. If we see breaking down this mini uptrend line, we may see mini market crash on crypto market. Even Bitcoin price is trying not to break down this mini uptrend line. Bitcoin price is getting ready to reverse down. As I said we may see huge daily red candles after breaking down this mini uptrend line.

Here you can see the indicators on daily chart of Bitcoin price. Fisher Indicator is on the top and ready to reverse down. We have seen fake reversing down on this indicator. We will see the true one.

There is mini uptrend line MACD Indicator. If we see daily red candle we will see breaking donw this indicator. You can see what happened after breaking down this mini uptrend line.

There was great downtrend line on RSI Indicator. It is broken up. Even it is broken up, we have not seen bullish moves on Bitcoin price chart. There is also mini uptrend line on RSI Indicator. If we see breaking down this mini uptrend line, we may see huge price dump on Bitcoin price chart.

We should be careful in next week. We may see reversing down on Bitcoin price chart in next week after breaking down this mini uptrend lines.

We will see..

Posted Using INLEO