Bitcoin Price Stuck in Lower Level of Ascending Channel

There was a parabolic uptrend line on Bitcoin price chart and It is broken down a few days ago. I shared a few analysis about this parabolic uptrend line and Finally It is broken down. Even it is broken down, we have not seen huge price drop on Bitcoin price. Bitcoin price is still in ascending channel.

Here you can see daily chart of Bitcoin price. Bitcoin price is trying to be in this ascending channel. It reversed up after breaking down this parabolic uptrend line. The middle line of this ascending channel resisted Bitcoin price.

Here you can see the indicators on daily chart of Bitcoin price. There is great downtrend line on RSI Indicator. Bitcoin price will be in resistance by this great downtrend line.

MACD Indicator reversed down a few days ago. Even it reversed down, we have not seen enough price drop on Bitcoin price chart. We should wait for a few days.
Fisher Indicator is close to bottom and trying to reverse up.

Bitcoin price is trying to be in this ascending channel. If it breaks down this channel, you can see the price target of this bearish flag pattern. So, Bitcoin price should be in this channel.

We will see..

Posted Using INLEO