Same Bearish Scenario is on Bitcoin Price Chart

chorock (76)in Project HOPE • 2 months ago

Even good news with interest rate of FED, Bitcoin price can not break up all time high. It is going up slowly. It may be a bullish trap. It may be time to distribute the cryptos to investors.

This is a bearish analysis for Bitcoin price chart. Here you can see daily chart of Bitcoin and my draft. I shared it for a few months. Bitcoin price stucked into this chart. Bitcoin made lots of bullish traps for investors. We have seen a bearish trap when we Bitcoin went down to 47K.

After good with including interest rate, Bitcoin may make a bullish trap again. Here you can see uptrend lines on Bitcoin price chart. Breaking down of uptrend line is coming soon! Bitcoin is trying to break up the top line of descending channel but time is running out. There is 8-day moving average on this chart and It is following Bitcoin price chart. If Bitcoin price closed below this average price, we will be very close to price drop.

I think we are at the same scenario with 3rd circle.

Here you can see the indicators of daily Bitcoin price chart. This is why I am waiting for price drop. Fisher Indicator reversed from the top! MACD Indicator is at resistance level coming from May! These are very hard to break up. A few good news should support Bitcoin to break up. As I said, time is running out..

We will see huge moves on Bitcoin price chart in this week. We should be ready for this. If MACD Indicator reversed down, It will take long time to recover loses...