Bitcoin Price Touched the Top of Descending Channel
Bitcoin price went up 70K today and touched the top line of descending channel. It was a resistance for Bitcoin price. This is 3rd touch of Bitcoin price and It may be early to break up this pattern.
Even Bitcoin price seems bearish after touching all time high 74K, It is still in consolidation zone as descending channel.
Here you can see daily chart of Bitcoin and I shared this pattern a few days ago. Today Bitcoin price touched the top line of this channel and Bitcoin need new story to break up.
Will it break up?
I think It may be arly to break up this channel. Here you can see the indicator of Bitcoin price chart, There is bowl pattern on RSI Indicator. If this pattern break down, we may see huge price drop on Bitcoin price chart. It will happen until July..
Fisher Indicator is also on the top in daily chart.
So, It may be early to break up this pattern. Bitcoin needs a new story to break up.
We will see...
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This is really a good news for bitcoin holder. I am still thinking bitcoin might fall though