Bitcoin Price Retested Uptrend Line as Resistance

Bitcoin price went down fast after touching 107K. I shared lots of anaylsis and tried to warn you about possible price drop. I hope you did whay you should and watched crypto market dump.

Yesterday was great day to pick up discounted cryptos on market. Even yesterday was great day to pick up, we may see new lower levels on crypto market.

Here you can see 4-hour chart of Bitcoin price. After going down to 92K, Bitcoin price reversed from 92K to 98K. Bitcoin touched uptrend line which is the bottom line of ascending channel. Even Bitcoin price went up, this is only the beginning of price correction. It may take long time..

Here you can see weekly chart of Bitcoin. This is why I say that I may be the beginning of price correction. Fisher Indicator is on the top. It has not reversed down yet even we got big weekly red candle. MACD Indicator is also on the top as 2021 level. You can see what happened in 2021 after this level. These are major reasons that I am waiting for big price corection on Bitcoin price chart.

So, we should be careful during price correction on crypto market. We are only at the beginning. I will focos price target of Bitcoin. I will share more about my analysis.

We will see..

Posted Using InLeo Alpha