Bitcoin Price is Close to Reversing of Trend

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Even Bitcoin price seems very bullish, it is close to reversing of trend. I can not predict the level of reversing but I can say the time of reversing..

Bitcoin is getting closer to reversing day by day.. During this preparation, Bitcoin is trying to increase the hype to get into more new investors..

I can see hidden trap on Bitcoin price chart.

Here you can see daily chart of Bitcoin. There is great support line on RSI Indicator and It is tested 4 times before... It will be broken down in a few days. We will not see Santa rally this year.. Because RSI Indicator should be broken down! That will be the beginning of trend reversing...

Here you can see weekly chart of Bitcoin. We are n 8th green candle on Bitcoin price chart. We have never seen these green candles since 2013. The record was 12 green candles on Bitcoin price chart and There is no 9 green candles on Bitcoin except 2013!

Will next week be green?

I think no! If next week will not be green, Bitcoin price will break down RSI Indicator in daily chart I shared above..

So, I am not buying new crypto from these levels. I am trying to change my crypto to cash to buy more crypto lower...

I should increase my amount of crypto to enter bullish season..

We will see...

Posted Using InLeo Alpha

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I don't know how to read those charts but Bitcoin seems to be acting different from all the theoretically expected behavior so far. That being said, except for long term purposes, at this stage, it's a wise decision to not make deep purchases till after the predicted pull back occurs.

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Bitcoin already surpassed my expectations for the year and retracing its price is also a proof of a healthy evolvement. The momentum is building nevertheless and we might be for a real bull run in 2024 and one factor that could help that is FED lowering the rates which should push more money on the markets.

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