Triple Bottom Patter Appeared on Bitcoin Price Chart

There is triple bottom pattern appeared on Bitcoin price chart. Bitcoin price touched 60-58K USD Level. Bitcoin price started the year touching 60K. After touching 60K, Bitcoin price spend the time being into great ascending channel. After breaking down this channel, Bitcoin price went down quickly from 80K to 59K where is the new lowest level of the year.

Here you can see daily chart of Bitcoin price. Bitcoin price was in small ascending channel after breaking down great ascending channel. After breaking down this mini ascending channel, Bitcoin price touched 58K. After touching this level, possible triple bottom pattern appeared on Bitcoin price chart.

If we don't see huge daily red candle, Bitcoin price will enter triple bottom pattern.
Here you can see the indicators on daily chart of Bitcoin price. MACD Indicator reversed down. Even it is below 0 level, MACD Indicator reversed down. If it continues to go down, we may see the new bottom on Bitcoin price chart.

Fisher Indicator is on the bottom. It is trying to reverse up. There was mini uptrend line on RSI Indicator. It is broken down. There is no the new pattern on RSI Indicator. We need to see the new pattern to reverse up.

I hope that possible triple bottom pattern will support Bitcoin price chart. There are lots of bad news for crypto market. Bitcoin price should stay on this level.

We will see..

Posted Using INLEO