Bitcoin Price Touched Again the Middle Line of Ascending Channel

Bitcoin price is in an ascending channel for a few months. After touching 60K USD, Bitcoin price went up slowly in this channel. Even it went up from 66K to 82K without any correction, It touched the top line of this channel and reversed down. There is also one of major average. It resisted Bitcoin price. Bitcoin price reversed down from 200-day moving average.

Here you can see daily chart of Bitcoin price. After touching the top level of this channel in last time, Bitcoin price broke down mini uptrend line. The middle line of this channel is the first major support line. If Bitcoin price breaks down this support line, It will touch the bottom line of this channel.

Here you can see the indicators on daily chart of Bitcoin price. MACD Indicator reversed down from the top. We will see correction on this indicators. Fisher Indicator reversed from the top. RSI Indicator reversed down from the top. All these major indicators reversed from the top. We need time to complete correction on these major indicators.

There was great downtrend line on Bitcoin price chart. It was broken up a few days ago. Even it is broken up, we could not see any bullish season for Bitcoin. It may be a bullish trap. There was mini uptrend line on Bitcoin price chart. It is broken down. We should need to see the new bullish pattern on RSI Indicator.

75K and 73K USD levels are great support levels for Bitcoin price chart. The bottom level of this channel is at 73K USD level. If Bitcoin price breaks down this level, we will see the new bearish wave on Bitcoin price chart.

We will see...

Posted Using INLEO