Bitcoin Price Broke Down one of Major Support Line

Today Bitcoin price broken down one of great support line coming from November. Lots of investors were waiting for new year rally on Bitcoin price chart, I shared lots of analysis and warned you about possible price correction. I have warned you for Christmas price dump and Bitcoin price went down from 107K to 94K a few days ago. I was waiting to see the price dump again. It started.

Here you can see daily chart of Bitcoin. There was downtrend line on Bitcoin price chart coming from all time high. It will work as great resistance on Bitcoin price chart. Resistance did beat support line and Bitcoin price broke down support line I drew it as blue. We have seen lots of bearish traps on Bitcoin price chart before. I think I will not a bearish trap and Price drop will continue..

Here you can see the indicators on daily Bitcoin price chart. There was great RSI Bowl pattern. It is broken down a few days ago. It is hard to enter new bullish pattern. So, we will see price correction on Bitcoin price chart for a while.

Fisher Indicator is on the bottom. It need a few days to reverse up. MACD Indicator is in correction period. RSI Indicator is at still high level. So, it is hard to see bullish signals on the indicator. We need to wait.

I said a few days ago that I will wait until end of January. Market may reverse up in this time. If market goes down fast, it will be great time to pick up discounted crypto.

I bought Hive at 0,22 USD level a week ago. It doubled. I am waiting for to pick up again.

We will see..

Posted Using InLeo Alpha