Bitcoin Price is Trying to Reverse Up to Test to Break Up New High of the Year
There was mini bullish flag on Bitcoin price chart. Even Bitcoin price broke up this mini bullish pattern, It reversed down and touched the bottom level of this bullish pattern. After touching the bottom level of this pattern, Bitcoin price reversed again to test to break up the new high level of the year.
Here you can see daily chart of Bitcoin price. Bitcoin price is close the highest level of the year. It is going up in last 2 month. It has great performance. After going up fast from 60K to 80K, Bitcoin price finished the bearish season and entered bullish season.
Here you can see the indicators on daily chart of Bitcoin price. There is mini downtrend line and uptrend line on RSI Indicator. They will cross each other. We will see huge price moves on Bitcoin price chart after this breaking happens. Fisher Indicator is trying to reverse up. MACD Indicator is also trying to reverse up.
Market maker always makes fake moves. While lots of crypto investors are waiting for reverse up from this level, market maker may make a fake move and reverse down. If it happens, 75K USD level is great support level waiting for Bitcoin price.
We will see breaking up or down on RSI Indiciator in this week. Bitcoin price also needs price correction. It may be reason for reversing down.
We will see..
Posted Using INLEO
The bullish flag fakeout and recovery is classic. RSI crossing, Fisher and MACD reversing up the setup looks strong. Do you think we break the yearly high this month, or is there another shakeout coming?
I'm just holding and building. Would love to hear your thoughts.
Ese 75K como soporte clave me suena, pero el detalle de que el RSI tenga su propio triángulo y esté por romper es lo que no había visto planteado así. Si el market maker hace la fake move que mencionás, ¿no sería más probable que barra primero a los longs antes de buscar el nuevo high del año?