Bitcoin Price Will Touch the Bottom Level of Ascending Channel

Bitcoin price supported by 75K USD level a few days ago. It was one of support level for Bitcoin price chart after touching 200-day moving average. I shared lots of analysis about Bitcoin price chart and pointed this possible support levels.

Here you can see daily chart of Bitcoin price. After touching 200-day moving average Bitcoin price reversed down and broke down the middle line of great ascending channel. There was mini uptrend line on Bitcoin price chart and It is broken down. After supported by 75K USD level, Bitcoin price tried to go above 8-day moving average. It is important average for short term. But It can not. Bitcoin price is still below 8-day moving average.

Here you can see the indicators on daily chart of Bitcoin price. MACD Indicator broke down mini uptrend line. After it broke down mini uptrend line, it reverse down from the top. It is under correction.

Even Fisher Indicator reversed up from the bottom, Bitcoin price can not stay above 8-day moving average. There was mini uptrend line on RSI Indicator and ıt is broken down. We should see the new bullish pattern on Bitcoin price chart.

We can not see bullish pattern on the indicators. We may see Bitcoin price touching the bottom line of this great ascending channel. We will focus the analysis on Bitcoin price chart after tcouhing this great support line.

It is so important support line on Bitcoin price chart. If it is broken down, we will meet with the new market crash.

We will see..

Posted Using INLEO