Bitcoin Price is Testing Mini Uptrend Line While Going Up
Bitcoin price went up fast in last two days. It is up %12 in two days. It went up without any price correction. It broke up minor resistances. It may be time to see price correction on Bitcoin price chart during mini bullish trend.
Here you can see 4-hour chart of Bitcoin. There is mini uptrend line on Bitcoin price chart. Today Bitcoin tested again this support line and supported. But Bitcoin price is still close to this support line. If we see small price dump on Bitcoin price chart, It will break down mini uptrend line..
Here you can see hourly chart of Bitcoin and the indicators. There is another mini uptrend line on Bitcoin price chart. When Bitcoin price breaks down uptrend line, it may be supported by 2nd mini uptrend line.
Fisher Indicator will reach the top in a few hours, it may reverse down from the top. This may be the reason of breaking down of Bitcoin price chart.
There was uptrend line on RSI Indicator and It is broken down. There are lots of negative divergences on hourly chart of RSI Indicator. This is why I am waiting for price correction on Bitcoin price chart..
We may see price correction tomorrow. It may be only a dead cat bounce and market maker may want to make bullish trap. We should be careful.
We will see..
Posted Using INLEO
It is true that Bitcoin has gone up quickly in the last two days, but it didn’t slow down or correct during the rise. Now, it’s close to breaking the mini uptrend line. The RSI and Fisher indicators are also showing signs of a possible price drop. It’s a good idea to be careful and watch for a correction anytime soon.
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