Bitcoin Price is Ready to Reverse From the New Resistance

Even Bitcoin price went up from 59K to 68K in a few days, It is hard to see all time high before 2024 US Election. It is one of major trigger for Bitcoin price and Bitcoin may not break up resistance before election.

Here you can see daily chart of Bitcoin. This was my draft. I warned you about Bullish traps on Bitcoin price chart 6 times. Bitcoin broke up this descending channel in 7th time. Even it broke up great resistance in 7th time, Bitcoin price may reverse from the new resistance I drew it yellow.

There are the indicators below Bitcoin price chart. RSI Indicator broke up great resistance but MACD Indicator will touch great resistance in a few days. Fisher Indicator is also on the top and ready to reverse. Price is also resisted by the new resistance. So, it is so possible to see price reversing from the top. It will be price correction for Bitcoin price bull run.

Here you can see hourly chart of Bitcoin price. There is uptrend line on this chart of It is broken down. We are waiting for price dump after this breaking up. This support line supported 4 times before and It is so possible to see price drop.

The top line of old descending channel may support Bitcoin price if it drops..

Next week may be red week for crypto market.

We will see..

Posted Using InLeo Alpha